Market In a Minute

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

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I have no affiliation or business interest with any entity referenced in this commentary. The opinions expressed are my own. I am a proponent of real transparency within our markets so that investor confidence and investor protection can be achieved.