That’s what is left of our trading year. We trade until 1 PM on Friday. I’m still looking for a good December and let’s not forget that fund inflows will get put to work early next week. Although there was a tight range so far this week, individual stocks have gone off on their own and have made some really nice moves.
Names like $AAPL, $AMZN, $NFLX and $BIIB have been taking out offers like nobody’s business. It seems the market is anticipating a good December and is getting a jump on some of the names that they think will work.
All sectors seems to be jumping in the pool with the slight exception of utilities and energy. Energy and oil service names are starting to show some cracks in the armor ($XLE, $OIH), but rotations are fine. For the most part, its a fully participating tape and the financials have come out of hiding and seem to be taking a leadership role. ($XLF). As $JPM would attest, just pay the fine and then go higher.
It seems we’re back to a Gilded Age for stocks whether you agree with the reasons why or not. Benny and The Inkjets still wants to play and soon the baton will be passed to our new uber dove.
Enjoy the break.