Santa Claus Rally began on Black Friday 11/23

C

chewbacca

thats right, on friday ES went up 20 points on absolutley no volume........the market was clearly looking past all of the credit problems and towards a strong holiday shopping season........and the season started off very strong with sales up 10%.......so now watch a gap up on monday and a huge bear squeeze until mid december........or at least till the next fed meeting on 12/11 on hopes of at least more dovish comments by the fed.........as the wall street propaganda machine will constantly repeat that credit problems are no big deal as employment and consumers are still strong.


http://biz.yahoo.com/ap/071125/holiday_shopping.html
 
Chewy - I would have to agree with you, that was my thought Friday and I was looking for signals early out of the open to take Long positions to hold going into this week. I am holding ES positions from the 1428 level and so far so good.
 

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Quote from thomfergu:

yes they might squeeze, however you forgetting oil at 100 . how do you think market will react to that??
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It means all the oil sector stocks wont be getting sold off just yet. :D
 
I wouldn't read too much into the market performance last Friday. Historically, the Friday after Thanksgiving is an up day - I called it before it happened because that's usually the case.
 
Quote from the4xczar:

I wouldn't read too much into the market performance last Friday. Historically, the Friday after Thanksgiving is an up day - I called it before it happened because that's usually the case.
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Im tired of the stock market almanac....
 
Quote from TradEStar:

Chewy - I would have to agree with you, that was my thought Friday and I was looking for signals early out of the open to take Long positions to hold going into this week. I am holding ES positions from the 1428 level and so far so good.
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I have covered 1/2 my position at 1448.75 tonight for a + 20.0 point gain, and I will have my last targets at 1468.75 and 1488.75 with my stop at 1429.00 to lock in profits. Wow that was a nice Sunday night open..HO, HO, HO! :)
 
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