Cyber Monday

If shoppers are buying their Christmas gifts online today, they certainly aren't buying any stocks. Right now the market is trading about as badly as I feel which isn't good since I came down with the flu yesterday. Gold, healthcare, and energy are the only groups which have been spared from this morning's pullback.

There's lots of chatter this morning that the market's performance post-Thanksgiving will be similar as we saw last year (i.e. not very good). This defensive mindset was seen in spades last week and it continues today. Obviously, everyone will get more concerned if the bulls don't show up at all today and the volume picks up in the selloff. That would be a notable change of character and the market will respond aggressively to that when it occurs.