QT with IB feed........the only way to fly.

i agree a lot of stocks finished with hammers especially in solar. Solar is looking real strong along with UYG and URE. i think were in for a 2 week rally. time to load on up and profit. SOLF, LDK, ESLR, FSLR, UYG, URE is what i am going to be heading into. thinking about drys and C because they have been really beaten down and are do for a big jump

HAPPY THANKSGIVING WEEK EVERYONE!~~~
HAVE A HAPPY, AND SAFE ONE!~~~

This is going to be a very short, and interesting week...
Expect lots of Volatility this week due to the Thanksgiving Holiday.
The market is closed Thursday and half a day on Friday, and the big bosses will be at home enjoying the holiday, which leaves their underlings to try and handle the desks.

Market Insider, The Week Ahead:
There are lots of Retailers giving Q3 Reports this week, and a VERY busy Economic Calendar:

http://www.cnbc.com/id/27848124

http://www.reuters.com/article/marketsNews/idINN2141912220081122?rpc=44&pageNumber=2&virtualBrandChannel=0&sp=true

It looks like the U.S. Automakers are out of the news until after Congress returns from vaction the first week of December.

The rally late Friday afternoon was caused by the "Geithner Effect". The Obama team must have timed this News Release perfectly, as they probably saw the market dip below 7773.71 on Thursday and knew that a big last hour selloff was a good possibility Friday afternoon. Usually, a News Release like this only lasts for one day, so on Monday they will announce the rest of the Economic Team that will be trying to fix the Economic Crisis. Will that be enough to keep the rally alive?:

Economic Team Obama: Will It Help Settle Markets?
http://www.cnbc.com/id/27872695

One of the main areas of "uncertainty" this week will be what will happen to Citigroup, which is the largest of the U.S. Banks. If the share price of (C) doesn't get back above $5./share, there are many Hedge Funds and Mutual Funds that will have to sell all of their shares because they aren't allowed to own stocks that are under $5.00 Failure to resolve this crisis this week will be a BIG drag on the overall market. The biggest fear is that the rating agencies like Moody's and Standard and Poors will lower their credit rating on Citigroup, which would be really bad news for the firm:

The link below first had this headline: "Citigroup: Government Now Said to Have Cold Feet". I just clicked the link again and the headline has changed to "Government to Make Equity Infusion into Citigroup", so it looks like this might all work out and give the market one less thing to worry about (unless they change the headline again...lol):
http://www.cnbc.com/id/27878049

Two interesting and opposing articles on where the market is headed:

Strong Rebound Coming in Next 3 Months: Dr. Doom
http://www.cnbc.com/id/27834889

Charts Predict: S&P 660 Coming, Bottom 'Within Days'
http://www.cnbc.com/id/27835414

ALL of the reports due out on the Economic Calendar with the "Consensus" bullet can be a potentially market moving event:


The Daily Chart is giving mixed signals, but this week will be all about the News and Economic Reports that come out. So I won't even venture a guess as to which way it moves until I can digest all of it. Candlestick analysis would suggest Monday will be an up day, but it doesn't work as well as it used to in this News driven market. Thursday's candlestick suggested another down day on Friday, but the News that Timothy Geithner was named as the new Treasury Secretary changed all that. The market was down 100 points at 2:15pm when that News broke on Friday, and the Dow rallied over 600 points into the close...




The Weekly Chart is also showing mixed signals, but is still mostly Bearish:




Happy Trading,
zz

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www.stock-market-lessons.com

Right on schedule, in the last fifteen minutes of today's session the Dow dropped 268 points in ten minutes, and recovered almost half of that into the closing bell. It was above the 8500 level of resistance for about ten minutes at the end of today's session.



This was nothing more than profit taking after a great two day rally, which is quite understandable. I wouldn't want to be 'IN' with the GDP coming out an hour before the opening bell tomorrow. And the other big Economic Calendar report is Consumer Confidence due out at 10am ET. If these reports aren't as bad as the analyst's consensus, this market may have another up day and the Dow could possibly close above the middle Bollinger Band on the daily chart which would be VERY Bullish.

But this news article says these Economic Reports may be worse than expected, which means a down day for Tuesday:

http://www.cnbc.com/id/27897439




BTW, it looks like my "BOLD Call" of the Dow at 6500 "soon" may not happen. It still might happen, but not anytime "soon".

I guess I should have zigged instead of zagging...lol

Happy Trading,
zz

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www.stock-market-lessons.com

You're Welcome! TikiTim...It's my Pleasure ;^)

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www.stock-market-lessons.com