Monday, December 21, 2009

Inflated Expectations

Well fellow traders, the expectations for the Santa Rally seem to have been met so far on the tape today. Whether or not it can sustain itself going into Thursday is the unknown factor, but we trade what we see, and what we have is a potential attempt to inflate the tape once again. It would only take one little pin to pop it at this point, but seasonality is on the side of the bulls. Tomorrow's economic calendar will include: ICSC-Goldman Store Sales, GDP Consensus, Corp. Profits before the bell. Existing Home Sales at 10:00 AM. For those trying to trade this crazy week, please use extra caution as it's lifting on vapors and as the week progresses it will probably get even worse. I took a look at the AAII data over the weekend, and you'll see quite a low on bearish sentiment going on there, but I'm not so sure that's just not due to a lack of interest in this tape at this time of the year. Good trading to us all for the duration, and enjoy the holidays!  P.S. you’ll have to indulge me a little this week.  I am rather excited to see family and friends that have been very much missed, as I’m sure you all are too- my music sharing will be sappy at best, but hey.. just roll with me here!  By next week I’ll be back to playing the blues and wishing they’d all go back to their respective locations.



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