Sunday, December 11, 2011

Sunday Night

It was a nice weekend. Did not really do too much, but that can be a good thing.

There is a general sense out there that markets are set up for the "Santa Clause" rally. Better bases and a lack of serious down moves (forget Thursday, was wiped out Friday) so close to major resistance has shifted the tenor of participants.

As for this market observer, I was very positive on things last week going into the Euro zone summit. Thursday threw me for a loop, as did Friday. Seems every time I get constructive on the market things fall apart. Will this time be different? Let's hope so.

I have two index shorts on in a small way and over 90% cash ready to work. I am doing screening tonight to get a better feel for individual names for the week. Maybe this will be the rally that sticks the landing.

Have a good night.


David Batista said...

If we have another day like last Thursday, baby Jesus will cry. So if there's any Christmas spirit still left to be had, here's hoping you have a good week ahead!

getyourselfconnected said...

Thanks David. The Thursday-Friday cancel out is a puzzler to me and still don't have a grip on psychology of market right here. Most people I respect and read are very bullish now after Friday, though not much changed in my eyes. What can you do.