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Dow Jones Industrial Average: Evening Report (11/30/2011)

  • The market sold off overnight as part of a corrective wave. The Bank of China added liquidity to the markets, and the FED, ECB and BOJ, lowered the rate on swaps lines. The fundamentals are bearish (European solvency), and the market is rallying. The central bank action is bullish and the closing price today relative to yesterday's close shows it.
  • The problem in Europe is a solvency issue, that is being treated like a liquidity problem.
  • Tomorrow, I expect a boring day for investors. In other words, tomorrow should be a trader's market.
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