The Day Ahead: Destructive Complacency
If anyone who comes up to you this week and says traders and investors are leaving for holiday vacation, and that there isn't much doing, simply laugh in their face. If you happen to read that trading floors are ghost towns, ignore the statement. The real deal is that, in a world of smartphones and online brokerages, you'd best believe that a sea of sell orders will flood the market if things get ugly.
That said, here's what comes about if folks believe five full trading days will be meaningless due to the impending Christmas holiday: complacency. There is such a wait-and-see attitude out there that, if it's left to fester -- and it will -- it will become very possible to chip away at the market's gains from mid-November (last Thursday short-term peak). We are all fully aware of why complacency exists; folks are waiting for resolution on the fiscal cliff. But you must know what I'm talking about....585 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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