Good morning. Happy Thursday. Happy Christmas Eve Day.
Half the world markets were closed today; of the ones that opened, gains were/are being posted. Futures here in the States are up a couple points.
Today is a half day; the market closes at 1:00 pm EST. It’ll be one of the slowest days of the year.
The market has done great lately. The S&P has been up 4 consecutive days and 9 of the last 11.
The Dow and S&P remain stuck in their consolidation zones while the Nas and Russell are practically going parabolic.
The US dollar has rallied a bunch the last couple weeks, but it hasn’t hurt the market or commodity stocks – both are up nicely over the same time period.
The small caps were lagging but are now leading – they’re at new highs.
Banks continue to lag – it’s the only major group not participating in the market strength. Otherwise a glance at the charts reveals steady, across-the-board strength and support for the uptrend.
I continue to only be interested in playing longs, but I’m not getting lazy. A light-volume drift up is a good recipe for a sudden and quick sell-off.
Merry Christmas everyone!
headlines at Yahoo Finance
today’s upgrades/downgrades
this week’s Earnings Reports
this week’s Economic Numbers
0 thoughts on “Before the Open (Dec 24)”
Leave a Reply
You must be logged in to post a comment.
Mr Jason, I notice that you have been promoting an options service (http://www.nakedoptionstrader.com/autotrade.html). Does this company need any permission (from the SEC or elsewhere) to trade clients’ money? Or what kinds of regulatory authorizations does it hold to sell that service? Regards, an old friend.
Technically it’s not trading other people’s money. The legal arrangement is between the broker and the client.
The client opens a brokerage account and gives authority to the broker to execute trades based on the recommendations of a particular newsletter service.
The newsletter service has no idea how much money is in the clients account, what size positions he’s taking or anything else. There is no legal connection between the service and the client. The client opens an account and says “I was part of XYZ’s autotrade service.” The broker then calls the service and asks “is Joe a subscriber to your service?”
This may sound like a backdoor way of trading other people’s money (I think it is), but the lawyers have worked it out so it’s not. Most of the major brokers have autotrade capabilities…if there were holes to be poked, I’m sure it would have happened by now.