An afternoon bout of selling dampened the day as gains were wiped out by the close. A quiet session as stocks rose slowly for much of the day. It wasn’t until the close to where we saw a big seller whack the market lower. Crude prices fell on the session back to a $55 handle. Natural gas was lower again nearly falling below $3. These half days are very difficult to glean much from and we really need an extraordinary day to be meaningful. Our uptrend continues.
The only reason the market is opening on Friday is due to really one reason and that is money. One other factor is “liquidity.” Just like how high frequency trading firms claim to add market liquidity. Friday’s trade should be much like what we have seen this week so far and remain quiet.
Merry Christmas! Be well and have an excellent day off from the market.
