Monday, December 01, 2008
Goodbye November
Firstly a belated Happy Thanksgiving for all our US friends. Hope you had a good one!!
We saw some really nice rallies last week off the lows we saw the week before. On a shortened holiday session Friday the Dow added 102.43 points to close at 8,829.04. The SPX gained 8.56 points to finish the session at 896.24. We still have no play on but will be looking to rectify that this week.
I have talked a lot in the past few months about intraday and weekly volatility being at unseen historic levels. In fact, the past five trading sessions, including Friday's shortened session, pushed the Dow and SPX to gains not seen in 75 years (apparently). For this time frame, the Dow gained more than 17 percent with the SPX up 19 percent. Is this a good sign? Who knows!
Anyway, big week this week for economic data with the key employment report on Friday. Expect more movement!!
Until next time.
We saw some really nice rallies last week off the lows we saw the week before. On a shortened holiday session Friday the Dow added 102.43 points to close at 8,829.04. The SPX gained 8.56 points to finish the session at 896.24. We still have no play on but will be looking to rectify that this week.
I have talked a lot in the past few months about intraday and weekly volatility being at unseen historic levels. In fact, the past five trading sessions, including Friday's shortened session, pushed the Dow and SPX to gains not seen in 75 years (apparently). For this time frame, the Dow gained more than 17 percent with the SPX up 19 percent. Is this a good sign? Who knows!
Anyway, big week this week for economic data with the key employment report on Friday. Expect more movement!!
Until next time.
# posted by Paul @ 4:23 AM 
