It was the worst Thanksgiving week since 1932. When the Pilgrims came here centuries ago to begin their east coast gentrification project, I’m sure they had know idea that the countries they were fleeing, would screw things up for everyone centuries later.
While the leaders of Europe frantically try to rearrange the deck chairs on the Titanic, we sit and watch and wait. Europe starts each day with dred and we start each day with a feeling of controlled panic and fear.
It was a black and blue Friday for retail yesterday as insane people risked life and limb to save twenty percent. People pepper sprayed each other to mark their spots. Two women were caught on video fighting over a waffle iron, girls pounded each others faces over yoga pants at Victoria Secrets, and reports that people were shot and robbed. Many were tasered. Ahh the Holiday’s. Peace, love and joy. Sometimes I wished we all reproduced asexually as it would destroy the advertising business. Evidently I will never experience joy if I don’t own an iPhone. Nothing like bringing in the joy of the season with a few hip checks and elbows to the face. Walmart $WMT has become the Thunderdome for middle aged fat people on extended unemployment benefits.
The stock market is dazed and confused and the coming weeks (and months) should be fascinating theater. All the pundits have been wrong and most of them make Mr. Potato Head look like Stephen Hawking. We learned last week that stock analysts are useless and most are no better than a coin flip with their recommendations, yet the mutual funds and brokers that lose your money on a daily basis cant belly up to the bar fast enough to buy their ideas. Your money, so you can decide.
Good luck next week.
$SPY, $QQQ, $RTH, $EUO, $UUP, $WMT