Cross-currents for shortened Thanksgiving week.....?

Here we are @ the start of 3.5 days of trading, for shortened Thanksgiving week.

There are many cross-currents to impact trading this week.

On the positive note :

-Europe seems to be taking its job seriously of deficit cutting, there is a strong will for that be in EU, ECB & affected countries.

-US economy is chugging along nicely, we have gone past the slowdown. No talk of recession now except by Roubini who can imagine the worst of scenario in his mindset.

-Q4 strength is obvious in every economic report, even unemployment claims taking series of dips.

On the negative note :

-US politicians lack the will to excel in their job execution. They know they cannot be fired for a lousy job performance. The non-super committee will do a partial agreement @ the last second, which will eliminate automatic across the board 2.5 %expense reduction. This mediocre job performance should be greeted positively by Wall Street.

IF we get US politicians to perform @ the lowest expectations, then we should have a very nice "thanksgiving rally"

Oil closed @ $97.79...this is telling me that growth is / will be accelerating as we go along.

S&P 500 & Dow is still strong technically, they are still above "key technical levels"

Nasdaq dipped below both 50 DMA & 200 DMA, as selling accelerated in High Fliers.

IF we see Europe & US making positive economic move in the right direction, then it is not far fetched to launch the rally of 2011 & 2012 right here....

IF we start rallying, then we have a strong chance of creating "Golden Cross" in all indices, which is a precursor of new highs in Dow & S&P 500. Using "standard deviation analysis" indices can make new highs in Dow & S&P 500.....

Now that i got your attention, lets us look @ how many popular stocks have fared in last 52 wks compared to their closing on Friday, who knows, you may be the lucky one to be most thankful about this thanksgiving day :

Stock...........52 wk high.........last........change....% down

QCOM..........$59.84...........$55.67...<$4.17>..<6.97%>
GOOG...........$642.96......$594.88...<48.08>..<7.48%>
SNDK............$53.61.........$48.72....<$4.89>..<9.12%>

SEE, these are the top 3 performer...some of us missed it completely ?

PCLN...........$561.88......$594.88...<$64.96>..<11.56%>
AAPL..........$426.70.......$$374.94..<$51.76>.<12.13%>
LVS..............$52.08........$45.27.....<$6.81>....<13.08%>

I am sure MANY of us were in these stocks !!!!!

ORCL...........$36.50......$30.60.....<$5.00>.....<13.70%>
AMZN.........$246.71....$197.14....<$49.57>....<20.09%>
BIDU...........$165.96....$126.93....<$39.03>....<23.52%>
LULU...........$64.49.....$49.06......<$15.43>....<23.93%>
RVBD..........$44.70......$26.07.....<$18.63>....<41.68%>
FRO..............$28.93.....$5.79........<$23.14>...<79.99%>

So, this is a very interesting list to take a note of.

YES....i was surprised by top 3, which got negligible attention from Gurus on CNBC?

Maybe there is MORE to doing our OWN homework, than being fixated on CNBC for answers?

There is lot to think about from the above list & make decision from.

Something to think about in this Thanksgiving week.

Good luck in your preparation for a "very elusive rally", it may come very quickly to catch us unprepared.

HAPPY THANKSGIVING !!!!

BLOG does NOT give buy or sell.

Saleem