The gap up Tuesday, caused by some combination of a German ZEW business confidence report, more QE coming, and China, has now been filled on the major indexes. You can see this in the SPY ETF. As mentioned this morning, nothing much is happening in December other than a whole lot of churning. Thus far the market has simply completed an oversold bounce from the mid November lows, and now needs to show more to prove it has more in it than that. With that said we soon enter holiday trading, and as with the Thanksgiving week that is usually something with a positive tone as most of the big money heads to vacation early.
Any securities mentioned on this page are not held by the author in his personal portfolio. Securities mentioned may or may not be held by the author in the mutual fund he manages, the Paladin Long Short Fund (PALFX). For a list of the aforementioned fund's holdings at the end of the prior quarter, visit the Paladin Funds website at http://www.paladinfunds.com/holdings/blog