The week of Thanksgiving can often be a week of low volume trading on Wall Street. Many fund managers are off for the holiday week. But, the US futures are tracking below fair value this morning as several macro events weigh on the minds of investors. This may be an opportunity for nimble Day Traders! But, those without a solid short-term trading plan might want to sit it out.
The Hang Seng tumbled 2.7% and China's Shangahi Composite Index shed 1.9% as tensions mount in Korea. North Korea's nuclear arsenal is well known and their altercation near their disputed border has heightened market jitters.
Investors also worry that the Ireland bailout will not be as smooth as hoped. As the European markets trade today the FTSE is down 0.6%, the DAX is down 0.3% and the CAC-40 is off 0.8%.
Two hours before our US market opens the S&P futures are trading 14 points below fair value, the Nasdaq futures are down 22 points, and the Dow futures are off by more than 100 points.
This sleepy holiday week should be interesting.
Be careful out there! As is often said here at Options Animal, "Manage your risks! The profits will take care of themselves!"