A nice beginning to this trading day, but we've been snookered so often I'm sure we all remain paranoid for the rest of the session. On one hand we have the dufusses in Congress pretending to grill Benny for the cameras, and Benny is lecturing them on entitlements in defense of himself! It's like the Keystone Cops! What a world.... Further contractions in the service industries and another 457K lost their jobs, and that's what you get when you've stopped producing anything in your own borders and you have buffoons running things. End of rant. We are in a seasonally positive time for the market like it or not, so any pullbacks may be short and sweet. If not? Then Santa comes early. Trade nimble.
There are a few charts of interest today, including AAPL. Some of us are already short this lovely little stock, and good luck to you on that trade going forward. We also came very close to filling the gap on the VIX this morning with a mere .04 miss so far today. Amgrant, you may not have invented your VIX/VXV indicator, but nonetheless, you brought it to our attention, and thanks for doing so. Every little bit helps as we trade this tape. You really can teach seasoned dogs new tricks. ;-)
Tomorrow's economic calendar includes: November unemployment at 8:30. Factory orders and Charles Plosser speaks at 10:00, and James Bulltard speaks at 1:15 PM. Good trading to everybody!
And for my pal Bala today:
