Cash is king. There is gonna be a massive global risk-off if this EU mess spreads. Yes that includes our sizzling hot real-estate market.

FWIW futures ripping

"Total spending over the four-day weekend following Thanksgiving reached a record $52.4 billion, up 16% from $45 billion last year"

Black Friday: Record $52.4 billion spent, according to NRF - Nov. 27, 2011

To me the four day weekend spending numbers only shows how bad the US economy is. Consumers were out in droves to save money but I believe Christmas spending will be down this year.

What a relief to see green this morning.

That's an interesting perspective/take on the retail numbers
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+1
Tons of unemployed Americans with too much time on their hands.

This will probably be a head-fake, so I'm staying put until there's more clarity on Europe.

Damn was hoping on a more sustained rally... Some green better than no green I guess
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In terms of black friday, I agree that this might actually be sign of bad economy as people rush to sales to fulfill their x'mas shopping. But I think the record number has more to do with foreign shoppers and the expense of domestic buyer is relatively the same IMHO.

I was at Woodbury Commons and NYC since Tuesday and through the weekend for both business and pleasure, and I can tell you that about half of people lining up for black friday sales are people who are clearly not local. And these people don't simply shop for themselves, but rather bringing big luggage boxes to fill them up.

They were notably people from emerging markets (China, Korea, Brazil, India and Russia) and this shows that their luxury goods market is indeed growing. I overheard several talking about how tired they would be on the flight back later the day. In these markets, the luxury goods are booming. And black friday sales creates opportunity for many who have no direct access to wholesale.

A Coach bag at US MSRP is consider a great deal in China. Imagine you could buy those bags at 20~40% off US MSRP and sell them at regular price. A 70L luggage can probably fill 10K worth (even more if it were even higher price tag items) of stuff. Not bad for about 2 days work for 20~40% profit/person.

F-ing scum rating agencies.... Fitch revising US outlook from stable to negative
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working on some new strategies for 2012

Here comes the cavalry, in the form of 6 central banks:

Stocks, U.S. Futures Rally as Central Banks Act - Bloomberg

GEEGEE for the bears.

From the Telegraph:

Turning back to this suprise coordinated move by the world's biggest central banks to cut the cost of borrowing in dollars, Jeremy Cook, chief economist at foreign exchange company World First gives his explanation for the move:
Cutting swap costs is the equivalent of interest rate cuts. These banks are now basically providing unlimited US dollars to banks with which to fund themselves. The banks will be hoping this is a turning point in the crisis.
We do not know what caused this decision, we may never know, but the smart money is on the fact that yields on one-year German debt went negative this morning (paying Germany to lend it money).
This may have been a signal that the money markets were a short shove away from complete collapse

Furthermore:

A small point worth making - China's move today to allow banks to hold less cash in reserve will take effect as of December 5, as will the cut in the cost of dollar swap rates just announced by the group of central banks.
An even more coordinated action than we thought?

This is reminiscent of 2008. I kinda knew we wouldn't sell off big before NPF Friday but 400 points up move? Damn glad I got some FFIV.

wow what a rally......and I was having trouble sleeping last night

The ugly close yesterday was a bit worrying. Then the stupid downgrade dragged down futures even more. I was like oh great another crap day for sure. Everything changed 5 A.M. :alonehappy:

SANTA CLAUS RALLY!

Everything rallying except POT...apparently George Soros selling off and buying gold instead?

2k in my pocket today not bad. by looking at the chart this seems pretty stable & sustained but still wouldn't be surprised to see a 300 point drop next week LOL

Haven't seen a near +500 day in a while.

Guess drinks on you Strykn? :fullofwin:
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So glad I got into the action yesterday when TD hit it's lows. Up 6% just from 1 day. Woot.

nice last minute rally

I hope no one here was holding FAZ today! down 17%

although I enjoyed gains on my longs, im still skeptical about this rally....
80% cash for me

Just curious....which market's hours doe FAZ/FAS follow?