Comments on: Xmas/Santa Claus Rally

By: Ethel-to-Tilly

Ethel-to-Tilly — Wed, 24 Dec 2008 13:50:12 +0000

Seems to me there is often a lot of volitility the last week of the year as people pull money out of high-flying low cap winners before the tax year ends and rotate into other stocks.

I don’t really see that happening this year – people with lots of tax losses already on the books aren’t going to want to be adding to the total and locking it in.

Doubt very much that there will be an end-of-year rally

By: leftback

leftback — Tue, 23 Dec 2008 22:57:22 +0000

@ Bruce: Probably not a market mover tomorrow. Corporate America is delaying the pink slips until after the holidays. The monster layoffs are coming in January. GE among others is planning a huge cull in Connecticut.

I bet you a burger we see SPX 900 by end of trading January 2nd…

By: Bruce in Tn

Bruce in Tn — Tue, 23 Dec 2008 22:52:46 +0000

Hey Lefty,

Any bets on initial claims tomorrow?

By: Bruce in Tn

Bruce in Tn — Tue, 23 Dec 2008 22:46:38 +0000

Santa Claus rally?

Maybe. Probably more like an elf this year…

By: leftback

leftback — Tue, 23 Dec 2008 22:41:50 +0000

Mike: Crude market manipulated?? What a shocker !! Only now they are trying to push prices down…..

By: Mike in Nola

Mike in Nola — Tue, 23 Dec 2008 22:20:33 +0000

Distorted Oil Prices

Don’t see any other current thread relating to this, so here goes:

Article on Reuters about how the peculiarity of the WTI contracts is making oil prices much more volatile at the high and low ends and not reflecting the true state of the market:

http://blogs.reuters.com/great-debate/2008/12/23/nymex-oil-benchmark-again-in-question/

By: leftback

leftback — Tue, 23 Dec 2008 21:57:53 +0000

I think there is at least 5% in Santa’s pocket this year. Plenty of room from here to SPX 910.
We might even see a breakout in the manner of Barry’s “Wyckoff Spring” post recently.

If we get anywhere near 1000, look out below…

By: Mannwich

Mannwich — Tue, 23 Dec 2008 20:07:54 +0000

Santa had better hurry up……….

By: DL

DL — Tue, 23 Dec 2008 18:34:29 +0000

If the SPX can get up to about 910 over the next few weeks, that would probably be a good time to get short.