Interesting Week

Posted by downtowntrader | 11/23/2008 11:07:00 PM | 0 comments »

This should be an interesting holiday week. Citibank is at the forefront with all weekend meetings going on to decide what to do to protect them. We also have Obama announcing his financial team tomorrow and also announcing some details to a stimulus package geared towards creating jobs. I think this is a good approach by the president elect as it tackles the issue of deteriorating infrastructure and the increasing unemployment rate. I just don't know how any of this is possible without a tax increase, other then cutting back on war spending dramatically.

Another interesting cross current this week will be foot traffic at the retail outlets. Everyone will be analyzing who is shopping where and how much people are spending to attempt and gauge how bad the holiday shopping season will really be.

And don't forget the automakers begging for money.

In short, there is a plethora of market moving news this week, in spite of the shortened week, so tread carefully out there.

Good Trading,