TVO Market Barometer 12/11/15

TVO MB 12-11-15

Six of the first nine trading days in December brought significant levels of volume distribution to the market. And what did the other days bring? [Hint: it’s not a partridge in a pear tree.] Even though the gift giving season is underway, the bulls so far have come up empty-handed, and the way the bears have been going at it (6 days above zero on the HG), to say this market is oversold may be a bit of an understatement. Last Friday was no exception (+17% bump in volume overall), so we’ll be buying SPY calls for a short-term swing at tomorrow’s open. -MD

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