No Thanksgiving Break

Obviously, Someone overworked even in a holiday week. Just when we need no news from financial, the guy in GS cut Merrill and other wall street firms. Had the guy done this a quarter ago, he would look like a genienues. Is it really wise to cut the firms after they lost more than a quarter of their value? Nevertheless, people took the news as an excuse to sell more stocks. By the end of the session, we are just a stone throw away from the August low, maybe Bears has determined to took the market to that low again.

There is no denying that the market is a bad shape no matter how you slice and dice it. In a day only sector of utility has rosed says a lot of the sentimentals of the investors, a lot of people are trying to find a safe heven. Out of all the sector ETFs, only utility, health care and consumer staples are in a decent shape, rest of the ETFs are all universally horrible. especially comsumer discretion and financials.

Last Friday, while I was watching the option of SPY, funny things happened that even though the SPY went up but the January\'s call actually went down. that is how much confidence the option traders have to the market. Basically, they believe the market will drop even more.

Anyways, it is a tough market out there, there are probably take some time for market to regain its footing.

There are could be some short coverings for financial and semiconductors are closing to the oversold territory-- again -- so, do not over-short the stocks...

Seasonality could help -- that is wishful thinking thus far, for what it worth, the following was short history return during thanksgiving week. Needless to say that past performance is not the indication of the future return :)