DJIA Market Close For Wednesday, November 14, 2012

The Dow lost -185.23 (-1.45%) to close at 12,570.95.

Cisco Systems (CSCO) was the only Dow stock higher today.

Losing Dow stocks were led by BAC (-3.64%), GE, HD, BA, CAT, UTX, AA, AXP, MMM and JPM.

Wow, do you know what today did to me? It made me wish I’d sold everything yesterday. I sold 50% yesterday with the plan to hopefully sell more into a move higher. Still, I think we’re due for a snap-back of some sorts.

Minutes from the latest Federal Reserve policy meeting, released today, suggest the central bank will continue to buy assets once its so-called Operation Twist program ends.

Off subject, Starbucks bought Teavana. Supposedly wanting to make it success similar to it’s own. I’m a tea drinker, but for me, a mug of tea costs me about 7 cents (two Lipton tea bags). So, you would not find me in Teavana spending much more than that on a spot of tea.

The dollar was down against the euro, but rose versus the British pound and Japanese yen.

Oil for December delivery rose 94 cents to end at $86.32 a barrel.

Gold futures for December delivery gained $5.30 to settle at $1,730.10 an ounce.

The price on the benchmark 10-year U.S. Treasury was unchanged, leaving the yield holding steady at 1.59%.

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