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Friday, November 28, 2008

The Market On Friday

(Addendum - even though futures were down, the DOW gained a decent 100+ points. Somebody must have gotten a great dinner yesterday. Could it be all turkey leftover sandwiches with mayo? That's five days of gains in a row.))

Friday is a short day on Wall Street, only one half day of carnage.

It looks like things will begin with a drop, and it could very well be a large drop.

After 4 consecutive days of gains, this may be the deal breaker. But, you never know. Some magic wand could magically change everyone into Snow White, where a happy ending is in the storyline. What are the odds of that happening?

Regardless the market is still down in totality about 60 to 65 percent over its high in the Fall of '07. We are hurting, thirsty, hungry, and we have a long walk ahead of us in the hot desert to get to civilization.

Reuters: Stock futures slip on worry about consumer, energy
Stock index futures slipped in thin holiday trade on Friday after a four-day streak of gains as investors nervously eyed the post-Thanksgiving sales for clues on how retailers will fare this holiday season in a deteriorating economy.

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