Hope everyone had a wonderful holiday weekend. Seeing the Ravens win last night was the perfect conclusion to a perfect weekend. Now, as we enter the last day of November and the beginning of December, all eyes and ears will be on the markets, retailers and Capitol Hill. Let the fireworks begin!!
First, let's get to the LCT Scorecard from the abbreviated session on Friday. The news coming out of Dubai took its toll on the Model--no surprise. All inputs pointed lower, so the signal sold ENPIX and bought GVPIX. Unfortunately, all the gains we had enjoyed on Wednesday were completely taken out, and then some. Here are the figures:
LandColt Trading Oil & Gas Model: -3.67%
S&P 500: -1.72%
Stay tuned for today's returns.
Hang Seng: +3.25%
Straits Times: -1.09%
Today: 9:45, Chicago Purchasing Managers Index
Tuesday: 10:00, ISM Manufacturing; Construction Spending; Nov Auto Sales (all-day)
Wednesday: 7:30, Challenger Job Cuts; 8:15, ADP Employment; 2:00, Beige Book
Thursday: 8:30, Unit Labor Costs; Jobless Claims; Nonfarm Productivity
Friday: 8:30, Unemployment Rate; Hourly Earnings; Weekly Hours
Also, on Thursday, Fed Chairman Ben Bernanke's confirmation hearing begins before the Senate Banking Committee. Look for Bernanke to field some tough questions.
Talk to you,
Todd M. Schoenberger, Managing Director
LandColt Trading, LLC