Solid rally, Light volume
Today's rally was nice to see, as the market firmed into the close. Volume was nothing to write home about, but that is not surprising given the NY transit strike (which is now over) couple with the upcoming holiday weekend.
Breadth was solid, and the Hi/Lo index expanded a bit. Leadership is fairly narrow, but there are stocks breaking out (see below) if you dig a little.
I think another positive close might just get investors excited about next week.
Have a great night--
posted by J. Kahn @ 2:03 PM
3 comments
3 Comments:
I am shorting this market big, cause morons like you are pumping it and it will be a train wreck.
Everyone on the planet is expecting a Santa Claus rally. I think it's likely. Sometimes the crowd is right. On the otherhand, everyone on the planet also seems to be expecting a recession or bad stock market in 2006. That I'm not too sure about.
I'm not sure how to respond to the first comment above. I hardly "pump" the market. If anything, I was overly cautious during the last 6-8 weeks. But I wish you luck with your shorts.
To Muckdog, I think most strategists have bailed on the notion of a x-mas rally, which is why I think we could still get a delayed one. And I agree, everyone thinks next year will be terrible.
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