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ES Emini Chart for November 30, 2009

ESZ9 for 11-30-09, what a great day to trade.

There are not many days when the market is in such an obliging mood for traders.  Instead of being the usual brutal beast, we were treated to a very gentle and easy day to trade.  Just the same, I did manage to blow one trade.

The Dubai issue dominated most of the action early on and drove prices down with force, but then the market reconsidered the impact of the Dubai restructuring and decided it wasn’t as big a deal as originally thought.  I caution, though, that the stock market is a fickle beast, and might well decide, at a later moment, that it needs to worry about Dubai after all.