‘Tis the Season for Hubris on Wall Street

Seasonality will be on the side of bulls this week, although what little buying materialized on Monday was relatively subdued. Killer stocks including AMZN, BA, FB, NFLX, GOOG and MSFT have been in holding patterns for more than two weeks, perhaps waiting for volume to dry up completely on Wednesday, the day before Thanksgiving, before they make their move. That would imply a thrust to new all-time highs for the broad averages — a show of hubris that may provide us with a good opportunity to get short. If so, stay tuned to the chat room for timely guidance, since there will be no tout updates on Friday and coverage Wednesday will be limited.