Bulls Excite Biggest Weekly Inflow of Cash into Stocks Since 2008

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Index ETFs finished mixed and flat, despite the Russell 2000 Index reaching an all time high

SPY, DIA, QQQ, IWMIndex ETFs finished mixed and flat Friday, despite a couple of big moves.  The SPDR S&P 500 Index ETF (NYSEARCA:SPY) lost .01%, despite the S&P 500 Index being within 100 points of its all time high.  The SPDR Dow Jones Industrial Average ETF (NYSEARCA:DIA) gained .13%, the PowerShares QQQ Trust Series 1 ETF (NASDAQ:QQQ) gained .13%, and the iShares Russell 2000 Index ETF (NYSEARCA:IWM) lost .13%, despite the Russell 2000 Index reaching its all time high of 881 earlier today.

Friday was the day of “despites,” as Index ETFs finished mixed and flat despite Wall Street seeing the largest weekly inflow of cash into equity funds since 2008.  Index ETFs finished mixed and flat despite the Russell 2000 Index reaching an all time high of 881.  And Index ETFs finished mixed and flat despite S&P 500 being within 100 points of its all time high.

Perhaps Friday’s sluggish trading was due to the sluggish Wells Fargo (NYSE:WFC) earnings report, which indicated greater profits for Q4 2012 compared to Q4 2011.  But Wells Fargo (NYSE:WFC) also reported a sinking net interest margin number, which means that Wells Fargo  (NYSE:WFC) is taking less profit from interest on loans due to lower rates and greater deposits, which is never a good thing.

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But perhaps Friday’s sluggish trading was due to an increase in the US Trade Deficit, despite the Federal debt being reduced by $26 billion for the month of December.

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