Kinnick

Global Stock Markets: Highs, Lows and What to Expect in 2009

Pretty tough to give much validity to the trading range for the last week of december with the light volume. We nudged just north of the MA50 on the S&P, but with so little conviction I just can't believe it. We've did this in mid December as well, and while the MA50 appears to be leveling, the lack of volume gives is much less credibility.

I closed a few long positions today. I'm not bullish on Q1 2009, but lord knows I've been wrong before. We'll see what happens on January 5th.