Volume was very light today and the action very random, and that is what we should expect. There are a few good trades to be found, but it is very easy to get nicked on some bad ones, as there is little consistency.
The market almost always has one bad day right around the end of the year. I've been stung by them before, and I'm staying very watchful to make sure I don't get stung again. Some small-caps suffered today, but the broad market is still elevated on light volume. A lot of folks at this point just want to protect profits, so it won't take much to trigger a cascade of selling.
Tomorrow should be another very tricky day, and I suspect many folks just won't bother to deal with it. If you are participating, be sure you are ready to move fast....
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