When all you read is gloom, turn here for a much different perspective.

Saturday, November 29, 2008

Mumbai, Black Friday, Cyber Monday

So did any of you get up at 4a on Friday to go shopping? If so, did it appear to you that consumer confidence was low?

I found it very interesting that the US stock market was not phased at all by the 24x7 reports of terror in the streets of India's financial district.

From the reports in the retail sectors of the US in the early morning, the lines were long and unfortunately the stampedes were deadly! The prediction of a significant decline in consumer spending this holiday season seem grossly exaggerated. Consumer sentiment may not be strong, but from the parking lots of Walmart it certainly did not appear to be weak.

And the market continued its weekly advance on what was a slow trading day.

Cyber Monday is almost here, with an almost instant reading on just how the spending season may unfold.

The market seems poised for a comeback. Perhaps it is time for a breakout session.

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