Courtesy of Larry Doyle.
I welcome launching a new initiative here at Sense on Cents. With credit to Oliver Pursche, I will run weekly posts entitled, Market In a Minute. The opinions expressed are his own and should not be construed as an endorsement of recommendation on my part. The inaugural rendition of this self-explanatory delivery provides the following expected highlights:
The Market in a Minute:
Although the S&P 500 lost about 1 ½% last week, I believe stocks want to move higher.
Pre-market futures indicated a higher open each of the five trading sessions, only to be pressured lower during trading hours on worries over the fiscal-cliff. Once a resolution to the fiscal-cliff is apparent, expect a significant rally.
This Weeks’ Market Moving Events:
Monday – Oil prices may gyrate as tensions between Israel and Hamas continue to rise. The Existing Home Sales report at 10:00 AM will be the key economic report of the day.
Tuesday – Housing Starts data is released.
Wednesday – The weeks’ busiest reporting day, is also likely to be a light volume day. Jobless Claims, Consumer Sentiment, Leading Indicators and EIA Petroleum reports are all on tap.
Thursday – Happy Thanksgiving
Friday – Expect light trading volume on this ½ day. Should there be a rally investors might be able to take advantage of some option pricing discrepancies today.
The Trade: With politicians on holiday, action in the Middle East heating up, and our expectation of a volatile December, continue to take advantage of any broad market rally to sell weaker names and buy puts for your portfolio.
Thank you Oliver!!
Larry Doyle
