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Black Friday Stock Sale Dip-Buyers Ignore China, Credit, Commodity Carnage
After the overnight dip on the back of a bloodbath in China...
This was the scene as the stock market opened in America...
As the biggest 2-week short-squeeze in 9 months continues...
Futures show the exuberance yesterday and the China let-down overnight - followed by dip-buyer delight during the shortened US Session...
Trannies were the biggest winners on the day as The Dow struiggled with unch...
But on the week - aside from the idiocy of the World War 3 dip and rip - the market was very narrowly traded on no volume...
Small Caps up 5 days in a row for first time since March...
It appears not everyone in the market is paying attention to Ms. Yellen...
The US Dollar rose modestly on the week driven today by some serious shocks in Swissy as chatter of a devaluation hit a thin market...
Treasury yields ended the week lower and flatter with 2Y unch and 10s to 30s down 2-4bps... (bonds havent closed yet)
Even crude gave back its gain today as the entire commodity complex was slammed...
Charts: Bloomberg
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http://beforeitsnews.com/global-unrest/2015/11/black-friday-madness-this...
Gold closed weekly below 1071. More Bearishness next week.
The CME boys typically do a last day, month-end ramp on oil. I dont think though they will get it to much above 43.25. Too much resistance building in. I would even short if they bumped it into or above the 42.50 range Monday.
Cyber Monday "data" should bring new ES/Nasdaq highs. Gold is toast. WTI will just be ping ponged by algos until the whole state of Texas is unemployed.
Like Kalifornia and New York
Don't forget illinois
Most of the oilfield workers are in West and South Texas and will be heading back to Mexico. This isn't the 1980's with JR Ewing running the state anymore. Toyota, State Farm, Fedex, and Blue Cross all moved their HQ to Dallas in the past two years. Texas has more fortune 500 companies than NY or CA. The left coasters and yankers keep seeing oil rigs and cattle in downtown Houston and Dallas.
whatever, it's still a backwards ass fucking state with six months of 95 degree humidity
Agreed.....I hate living here. After new years, im gone.
Got my FB, AMZN, NFLX, and GOOG locked and loaded for Monday. Now I need to go out and buy some flatscreens. Glad stock market closed early to give me this buying opportunity of a lifetime.
sad...just unbridled greed all around
and then there's the video
Only the strong survive black Friday , you must drive your enemy's before you kill the children and rape the women , death to all that stand in the way.
I shopped....On line....More 00 Buck....Please deliver
Gold Bitchez....I pick up pennies