All the turkey-filled US traders who stayed out are missing a good one today.
I keep hearing chatter about Europe but it’s all old or unimportant news, nothing that could spark the kind of moves we have today.
I chalk it up to better sentiment. European stocks have rallied every day this week and my belief is that the market was far too worked up about the election/fiscal cliff.
Also, as I have mentioned repeatedly this week, the time between Thanksgiving and mid-December is one of the strongest seasonal times for risk trades.