Thankfully with everything in the portfolio managing to stay in the blue for the last couple of days the portfolio has bobbed along just behind the FTSE100 for December so far.
One interesting thing to note across the pond today was the S&P 500 index managing to rejoin the DJIA and the Nasdaq100 in the blue for the year so far.
23/12/11 31/12/10 52 week low
S&P 500 1261.67 (+3.97, +0.32%) 1257.64 1099.23
DJIA 12255.40 (+677.89, +5.86%) 11577.51 10655.30
Nasdaq100 2281.53 (+63.67, +2.87%) 2217.86 2038.22
Interesting when compared to the FTSE100 anyway, which continues to be well below the level it started the year at:
When you add in that the FTSE100 is only 1.8% above its 31 Dec 2009 level of 5412.88 it appears that the FTSE100 has taken 2 steps back (almost no growth in 2 years) compared to the US indexes which have, arguably, only taken 1 step back (no growth this year) or, in the case of the DJIA actually moved ahead.
Quite a marked difference really and one I am surprised at given the weakness in the US economy, its own debt problems, and the still very real contagion risk from EU sovereign debt.
Given that recent momentum has been led by Wall St it continues to underline an outside chance that markets may still be led out of their gloom by a strengthening US economy.
Closer to home my portfolio is holding onto a relatively handsome 2011 gain of 9.76% but continues to feel exposed given the lack of collective conviction (never mind a solution) from the EU.
There is still another 2 and half days of festive trading before we ring in the New Year but let me take this opportunity to wish you all a very Merry Christmas and a "prosperous" New Year.
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