Submitted by: Francis Soyer
Today is a half session. Volume should be moderate as normal trade volume not executed on Thursday will try to find a home in the short session today. The central theme for today is STILL the Euro zone and its eminent demise. We should also expect chatter about Black Friday and sugar coated commentary on those sales and retail attempts to turn a losing year into a winning one. I am not bullish at all on retail and believe this years sales will be a great disappointment.
There are no POMO operations today so do not look to the FED to keep markets up.
Enclosed an interview with former Assistant Treasury Secretary in Ronald Reagan's administration discussing the Euro and other econ issues.
