As mentioned in an earlier post, while the markets have taken a decidedly positive tone, we were nearing confession season.
Confession season, a seasonal time just before the 90 day treadmill, we call public company earnings, for companies to confess a shortfall of their goals for the quarter, and many times for the year, since we are approaching the end of another year for many companies. This confession season has been lighter than we thought up to this point, with fewer companies throwing in the towel on their yearly goals as of this point, of course announcements may be forthcoming shortly.
Tomorrow marks a major holiday, leaving many investment posts unattended and will most likely lend to lighter trading day in the capital markets, which can sometimes result in magnification of small events, but usually leads to a muted performance.
We are nearing an interesting time and level in the capital markets, for a quick review, see this comment, originally posted on Aug 6, 2010. I will update this thought from just over a month ago, next week, but it appears to have been very accurate up to this point.
I have a mid-afternoon flight to another city in Texas today for a CFA related event, which will start tonight and keep me in meetings all day tomorrow and away from home over the weekend.
Have a Good Day!