The market posted strong gains following reports of strong Black Friday weekend sales and positive news from Europe. In fact, it was a bounce on good news, but we wouldn't expect a straight-up rise from this point. Investors will keep a close eye on the debt crisis in Europe, which could continue to spark jerky moves in the market. Amazon spiked after the online retailer said it sold four times more Kindles during this Black Friday weekend than the same period last year. Apple said that customers bought 14.8 iPads per hour, up 68% year-over-year. Implied volatility plunged as market fears faded away.
Tuesday, November 29, 2011
Jumped on robust Black Friday sales
The market posted strong gains following reports of strong Black Friday weekend sales and positive news from Europe. In fact, it was a bounce on good news, but we wouldn't expect a straight-up rise from this point. Investors will keep a close eye on the debt crisis in Europe, which could continue to spark jerky moves in the market. Amazon spiked after the online retailer said it sold four times more Kindles during this Black Friday weekend than the same period last year. Apple said that customers bought 14.8 iPads per hour, up 68% year-over-year. Implied volatility plunged as market fears faded away.
