Dow Logs Worst Thanksgiving Week Since Great Depression

November 25th, 2011 (2) Posted By Pat Dollard.

CNBC:

Stocks closed in negative territory in thin, shortened trading Friday as investors were reluctant to go long ahead of the weekend and amid ongoing worries over the euro zone.

The Dow and S&P posted their worst Thanksgiving week since the Great Depression on a percentage basis.

The Dow Jones Industrial Average erased their gains to finish lower, led by H-P [HPQ 25.39 -0.39 (-1.51%) ] and Chevron [CVX 92.29 -1.46 (-1.56%) ].

The S&P 500 and the Nasdaq also ended lower, logging a seventh consecutive decline. Some traders are watching for 1,150 on the S&P as the next key level.

The CBOE Volatility Index, widely considered the best gauge of fear in the market, ended above 34.

Jihadi Killer Radio Hour
Follow Pat on Twitter
  • mike3481

    I had Thanksgiving at my sister’s house, her hubby’s a broker with a major firm and I asked him how’s he doing (just in general) and he blurted out that he’s shorting the market and making gobs of money for his clients (and left unsaid, him too) and then a really funny/sad thing happened, his wife, my sister, started talking about the improving economy. lol

    Yeah… exactly, her hubby’s shorting the market because everything is slowly collapsing (by design) and she thinks it’s improving, ‘normalcy bias’ on full parade.

    I didn’t go all Glenn Beck on them, not yet anyways, wasn’t the right time, I need to slowly prep the ground first.

    So, how was your Thanksgiving?  lol

  • mike3481

    I had Thanksgiving at my sister’s house, her hubby’s a broker with a major firm and I asked him how’s he doing (just in general) and he blurted out that he’s shorting the market and making gobs of money for his clients (and left unsaid, him too) and then a really funny/sad thing happened, his wife, my sister, started talking about the improving economy. lol

    Yeah… exactly, her hubby’s shorting the market because everything is slowly collapsing (by design) and she thinks it’s improving, ‘normalcy bias’ on full parade.

    I didn’t go all Glenn Beck on them, not yet anyways, wasn’t the right time, I need to slowly prep the ground first.

    So, how was your Thanksgiving?  lol