Friday, November 20, 2015

Unusual market opening today

Today's U.S. equity market is having an unusual open.  When the main account here was checked at 9:40am, out of maybe 70 positions there was only one that was down, and not by much.  In turn, there were no major gains anywhere as well, but rather all just positives reflecting overall market performance.  By 10am the situation was only slightly different as there were a few more tiny losses. This pattern was the same across other accounts managed or watched here, as they were checked quickly a few minutes ago.

It was strange to see such uniformity.  One can only wonder which way this will break as the day goes on and traders set themselves up for the weekend.  Will they be defensive for fear of any troubling exogenous events over the weekend or will the market rise as more cash finally comes off of the sidelines for what some expect to be a December rally?  Could everyone just sit and watch as is often done here but is rarely done in the volatile market of recent times?  This is unlikely.


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