Tuesday, November 20, 2007

Turkey Talk

Light posting during Thanksgiving week at the in-laws. I think Citigroup (C) should get the Turkey-of the-Year Award for gobbling up more than its fair share of the news cycle this year. At down 40% on the year and 8% this month alone, it has certainly done wonders for the Dow, yesterday being only the latest example. Speaking of wonders, I "wonder" if Goldman Sachs would have issued that downgrade yesterday if alumnus Thain had taken the top job! Talk about being late to the game. Any other Turkey nominations? You sling 'em and I'll post 'em.

More in keeping with the season, it looks like we are getting a little recovery bounce at the open off of yesterday's damage down to prior lows. I don't have any stats on hand, but I've observed that the market often puts in a nice performance after "W" double bottom retests that hold over the next few sessions -- we'll see, I'm more skeptical than usual of late. I hope you all enjoy time with family and friends this week.

No comments: