Looks Like We May Have A Merry Christmas

I don’t post for two days and the markets turn around? Maybe I should be a little more quiet?

Yesterday, as expected the Fed left rates alone yesterday and the market took that as a positive. Although, I would have liked to see a nice Christmas gift of a cut, I’ll take the unchanged. Better than an increase.

Also, this morning word of merger talks between Continental Airlines and United Airlines to create the worlds largest airline has markets in a positive mood. GE also announced it was increasing it’s dividend by 12%.

Adding fuel to the Christmas rally this morning was a much stronger than expected November retail sales report. Economists consensus forecast was for a 0.2 percent gain. So it looks like we have all the makings for a nice Christmas rally. Here’s hoping that WIRE takes off so I can sell it as I’ve got my eyes on another stock, but more about that later.