Giving Early Thanks



In an about face, the markets rallied right out of the starting gate yesterday and never looked back. In the end, all of Tuesday’s losses were made up, and the S&P; 500 closed at the exact number of last Monday.

Powering the rebound was a bullish report on jobless claims along with positive individual stock stories. Two other catalysts helped as well due to no new announcements: No shooting in Korea or any earth shattering news about the European debt crisis.

As I mentioned yesterday, several of our holdings were slated to be sold, unless a rebound materialized. Well, materialize it did and prices of the effected securities pulled back below their respective stop loss levels, so I did not execute any orders but one.

Friday will be a short trading session so I don’t expect much volatility, unless unexpected news events from the current world’s hotspots hit the news wires.

In the meantime, I wish you a very relaxing Thanksgiving Holiday.

About Ulli Niemann

Ulli Niemann is the publisher of "The ETF Bully" and is a Registered Investment Advisor. Learn more
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