It has been a good month for Philadelphia…Not only are the Eagles vying to be in the NFC championship game but the Philadelphia Exchange indices are leading the way in the market. Look at the PHLX Gold/Silver index up 12% year to date, PHLX Semiconductor index up 10%, and the PHLX KBW Bank index up 6%. A late day rally on Friday has helped give stocks a nice run to start the year and three positive weeks for the Nasdaq.
To quote two of our most famous traders from the Philly exchange (by way of the movie, Trading Places) Louis Winthorpe III “Looking good, Billy Ray.” Billy Ray Valentine “Feeling good, Louis.”
Data as of the close of business 1/20/23.