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What is Normal?

December 22, 2010 – 5:55 pm

This morning the final number for the third quarter GDP came in at a revised 2.6%, up .1% from the previous revision but not as high as was expected. It was much to do about nothing at this point. The market did not react.

Existing home sales numbers for November was the other statistic out this morning and it was up 5.6%. October was down 2.2%. Prices were flat and inventory was down slightly. This was not great news but it wasn’t bad news either. Again, the market did not react.

Being that this is a holiday week trading volume is very light but we are having unusually low volatility. During times of very low volume in trading the market can spike and collapse sharply but during this holiday season we have seen only a slow rise. Of course the market, if nothing else, tries to fool the most people it can so maybe we should say that the recent activity is normal in its unusualness.

I want to wish everyone a great and happy Christmas from all of us at KPP Financial, Inc.

Good Trading
Steve Peasley

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