“Our problems stem from our acceptance of this filthy, rotten system...People say, 'what is the sense of our small effort?' They cannot see that we must lay one brick at a time, take one step at a time. A pebble cast into a pond causes ripples that spread in all directions. Each one of our thoughts, words and deeds is like that. No one has a right to sit down and feel hopeless. There is too much work to do.”
Dorothy Day
It is almost hard to believe this is the first week of the year, given the exceptionally light volumes.
The old saw 'as goes January so goes the year' might be worth remembering.
There is a Non-Farm Payrolls report on Friday, but the big variable is the European debt situation. There is a meeting on the 9th of January.
This market is like cotton candy. It would not take much to knock the air out of it. But do not get ahead of it on the short side for the same reason, that it is in the hands of the trading systems who can spin rallies out of very little material.
