Remarkable isn't it? It has almost become like clockwork - I've never seen a pattern continue like this at a 80%+ type of success rate. Another wonderful surge in futures between 6 AM and 9 AM on a Monday morning, for no particular reason (not even a "Merger Monday" to use as an excuse).
Much like last month, we have Monday morning markup following by the "first day of the month" magic on a Tuesday. It will almost be a shock to the system if there is a selloff tomorrow. Last week's selloff is already a fading memory and if tomorrow's rally delivers its normal 0.5 to 1.5% pop we should be at yearly highs.
Side note - no less than 3 "non stock market" type of people asked me this weekend why prices for "everything" were going up. I told them not to worry... just there imagination as the official statistics show no inflation. I left it at that, otherwise it would have been a 2 hour conversation each.
Best Of FMMF
- 1: Warren Buffet Piles on Europe
- 2: [Video] Jim Chanos Returns from Europe, Even More Bearish on China
- 3: A Chart to Open Our Eyes - Staggering Changes by Multinationals in Employment Behavior 00s vs 90s
- 4: Futures Blasted on Dexia Woes... and Poor Preliminary China Data
- 5: Market Working to Worst Thanksgiving Since 1932
- 6: Et Tu, German Bonds? Poor Auction Raises Eyebrows