Saturday, November 17, 2007

Bring on the Turkey

Thanksgiving is the best holiday. Period. No gifts. Turkey and football. Excessive celebration of said holiday will be priority numero uno next week. As for markets I'll play defense.

Trading should be thin. Hopefully boring too. I've got stuff to do.

The consensus is that stocks will be bought based on the calender. Meanwhile the fundamentals are deteriorating around us. The weak bull case may win out in the short term. We could drift higher. Or not.

There are some stocks worth buying. Utilities and other defensive sectors look good. However, the warm fuzzy holiday market, if that's what we get, isn't likely to last long.

Full Disclosure: I hate Christmas.

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