The closing of last week was an interesting one... as investors sold out of positions preparing for the long weekend. After a good day of food, eyes were on Black Friday and Europe... would retail sales produce a number that suggested a weak or strong economy? And of course with Europe operating as usual, there was always a chance for a headline that would rock our markets.
Today, our first trading day after the long weekend, and the results are in... with everyone focused on how strong sales were over the weekend. 52 billion sold... at first this number is baffling... onw that the market has had a little time to digest it, the question everyone is asking is where's the beef?
Beef of course being profit... with profit margins tighter than they every have been, one has to wonder was this Black Friday not as successful as retails would like everyone to believe? Was the real benefit of Black Friday a turnover in old inventory?
This last question has many worried, and is the explanation behind both stocks and bonds rallying.
Bulls and Bears are having it both ways today, a rare day... which suggests we're still consolidation...
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