Friday, November 27, 2009

Dubai Ruins a Perfect Trading Day

Aaaaargh, how many of you figured we would wake up to a relatively calm day? An abbreviated session on tap, no economic reports, and zero earnings releases should spell F-U-N today. Oh, but no more of that.

As I was preparing a feast for today's Alabama/Auburn game, the phone rings from New York only to say "hey, what are your thoughts". Ummm...looks like the bacon burgers and wings are going to have to wait.

Be prepared for a struggle today. Banks are trying to downplay the Dubai situation, but LCT is thinking this is the start of some serious negative news. Hold on because light volume is going to mean heavy volatility.

I'm going on FOX Business today--for the hour--from 1:00-2:00, EST to talk all about Dubai. Be sure to tune-in, because we go on just after the bell.

For now, the Overseas Boxscore (which isn't pretty):

Shanghai: -2.36%

Nikkei: -3.22%

Kospi: -4.69%

Hang Seng: -4.84%

More later, including the press release.

Talk to you,

Todd M. Schoenberger, Managing Director
LandColt Trading, LLC

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