History didn't fail us today as the Tuesday following Labor Day Weekend results in a positive day for the S&P almost 90% of the time. This would explain the run-up in the "500" on Friday. It seems a lot of money was made today, unless you owned Kraft. The stock took a beating, dropping almost 6% on the day.
Oil companies, along with gold miners did well today. Not bad for a day that saw many in the sector still suffering from a summer hangover.
Note to Wall Street: Don't drink tonight. Stay home, have a nice supper, and get some sleep. Tomorrow night begins a 24-hour adventure with O'Bs speech and the jobless claims report on Thursday AM. Get some rest because the markets will be movin'!
Talk to you,
Todd M. Schoenberger, Managing Director
LandColt Trading, Inc.