Have a happy holiday season
I hope all of you are enjoying this holiday season. As usual, this period is proving to be quite slow for the financial markets. Wall Street traders and investors are preoccupied with families, friends and festivities so trading volumes tend to be low.Take a look at the chart below to see how the major indices are ending 2007. The Nasdaq (black line) and the Dow (gold line) are going to end the year with good but unspectacular gains. As of today, the S&P 500 (blue line) is up about 6%. If you are hoping for better gains in 2008, I suspect you should hope for a strong rally early in the year. With and uncertain presidential election in the fall, Wall Street with probably see a precautionary sell-off ahead of time.
Enjoy the weekend and the start of 2008. We hope next week is the start of a prosperous year for each of you.
F.S.
