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  • elisabeth_aea elisabeth_aea Nov 25, 2007 9:37 PM Flag

    That's the way I think it will go.

     

    That huge +8% increase in black Friday sales should ease concerns about the state of the overall economy and cause a lot of buying and short covering. Big rally in the overall market Monday.

    Only thing that might get left out of the rally is the financials. That big increase in black Friday sales should help to strengthen the federal reserve's overall view that the general economy really isn't that bad. That will make it seem less likely that the fed will cut rates in December, and many in the market were hoping for a fed rate cut that would help bail the financial sector out of it's bad credit problems. The financial/mortgage sector might well not take part in Monday's likely rally because of the now reduced possibility of a rate cut that would help to bail out their problems with bad paper.

    The dollar should also strengthen against major currencies Monday because it has been pushed down allot lately in anticipation of a rate cut.

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