Next Week, its only naturally for some selling earlier then volume fades, VIX spikes down, money manager try to get rid of bad positions to offset some gains before they take more gains in January. So I expect some early weakness then full blown Fed Mandated mini Rally, if there are still some shorts to squeeze. Going long names like MSFT, BABA, AAPL, IBB, SPY still would make sense til 2nd week of January before some profit taking occurs.
I am personally LONG - BABA, VIP and a little USO ( accumulating)
With OIL, their intention is obvious and if their work fail them, Saudi will be doomed as well. Change of tone from the Saudi should say when the oil bottoms. This is a Obama mandated fall in USO since QE is stopped. Some Idiots truly believe lower OIL will be better off for consumers.
I will take any weakness in AAPL, BABA or MSFT to get some calls for mid week Jan. The Fed has done so much, they wont let the last week or two spoil their printing work. they will print some fireworks into the end. There is an Economic war going on around the world. Gold Back RMB will soon be revealed to take on the USD. May the Russia sell their GOLD to China in order to upset the current Central Bank induced happy days for the USA? and Russia peg their currency to RMB? that surely will surprise lots of so call economists.