The Market On Friday

  Good morning. It is 37 degrees and sunny here in Upstate NY. If today is anything like yesterday, we are in for a golden day. I know Thanksgiving is two weeks away but the feel of the holiday is already here. Plans are laid, the gatherings are mostly scheduled, we feel it coming. As I'm not in the least little bit a football fan, that part of the equation holds no importance for me. With all the scientific evidence coming forth about the real dangers of the sport to the professional athletes, I don't want to even watch the highlights. Hard for me to support something that holds a promise of extreme future disability.

  At 8:30 a.m. ET futures are moderately higher and the price of oil per barrel is up. The market is poised to open moderately higher.

  The DOW is to our amazement closing in on 16,000. It's real close and one suspects that it very well could become a reality. Investors were pleased to hear Janet Yellen support the program of quantitative easing which adds cheap liquidity into the commercial system. This is all gravy because it's hard to understand how the present index numbers can remain when the program is curtailed. A correction is coming, when and how deep, who knows but it's not today.

CNN: Stocks on the cusp of key milestones

...Federal Reserve chair nominee Janet Yellen told a Senate panel that she is determined to support the U.S. economic recovery, and believes the Fed's bond-buying program still has the power to help.