It was a nice day for an experienced trader yesterday. Just watching the mild whipsaw allowed moves to OEBLD DEC 2009 520.0000 CALL available as low as 5.30, sold to 6.30 same day,and hitting highs of 6.70 by 2.40 p.m. We'll keep this signal open and show it as a day trade also today and for traders that are watching the market Friday.
The market is closed tomorrow for Thanksgiving, and Friday is a shortened trading day.
Live peace and love in your Thanksgiving celebrations.
The FEDS publish minutes today, Tiffany and Deere report earnings before the market opens, and the U of M sentiment index is out.
6.25% share of U.S. Mortgage Loans that were 60 or more days past due at Sept 30th, a 58% increase from a year ago.
7.6% rise in delinquencies rate from the 2009 second quarter.
Bottom Line: The home are heading to foreclosure, and many are being foreclosed upon.
Retailers will very much watch Black Friday numbers for a sign of how much they will be discounting to gain holiday traffic.
There is less being built commercially, and there are far fewer construction projects. Less restaurants are opening. Most restaurants which historically do well in recessions are not, with the exception of MdDonalds, one of our core hodings :) in Blue Chip.
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