Last day of the week, last day of the month, last day of the quarter, last day of the year and it’s a holiday weekend with an abbreviated session.
Anything can happen!
Trading today will be much like playing roulette and never play a game where the odds are 10% against you.
The World markets that were open today generally regretted it, suffering large sell-offs and we can expect the same for the US, at least in the morning.
As a rule of thumb – expect a lot of big winners to go down a bit as people close out their books and get cash ready to seek out next year’s winners.
Some stocks will be driven up to make virtual portfolios look better but most funds have given up on this year so they will be happy to let the market die so they can blame the market for their poor performance rather than their poor strategies.
Cash, cash and cash is the Trade of the Day. That and maybe MFE and SYMC because this latest virus scare proves that Microsoft should not be trusted with Windows security!
Have a very Happy New Year!
– Phil
ps – Do not go into the weekend short on oil or gas as there is a potential crisis brewing in the Ukraine with a major gas pipeline. It will probably amount to nothing but you never know…
