We need any positive report on fiscal cliff resolution to help us lift off.
Anyone visit any stores selling UGGs over the weekend? I still believe we will see brisk sales as we move into the holiday sales. Women will not stop buying shoes! UGGs are still fashionable and comfortable, so they should do well.
Did anyone here ever look at VXX? It has made money for me 90% of the time I have traded it. It tracks the VIX, but is an ETF that loses value over time and is ultimately headed to zero. Although the market is down slightly, the fear in the market is waning, and VXX is down $1.32. If the market trades sideways, it will plunge. If the market rallies it will be even better.
I don't see any rush to remedy fiscal cliff. Both sides will be posturing and pointing fingers trying to use it as leverage to make gains and get concessions. Neither side wants to look bad in public eye. The market will be very choppy for the next 2 months. We will get a better pop from colder weather and better holiday sales.
frog--Agreed. But you know how the news is. Any tidbit that looks at all positive can ramp the markets higher. I'm holding some shares longer term and have some I will trade on a quick pop. But colder weather would definitely help to get buyers thinking about UGGs.