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Christmas Eve Shoppers Poised to set Spending Record

Americans remain the unquestioned world champs at spending money they don’t have on stuff they don’t need….

NEW YORK — It’s Black Friday, The Sequel. Stores are rolling out deals and expect to be swimming in shoppers on Christmas Eve as stragglers take advantage of a day off work. For retailers, the last-minute rush caps the best year since 2007, and possibly ever.

With Christmas falling on a Saturday this year, Friday is a holiday for most U.S. workers. That lets shoppers hit the stores first thing in the morning.

“I’m calling it Fantastic Friday, because I really do think it’s going to be one of the busiest days of the year,” said Marshal Cohen, chief fashion industry analyst with researcher NPD Group.

A strong Christmas Eve would round out a surprisingly successful holiday season for retailers. The National Retail Federation predicts that holiday spending will reach $451.5 billion this year, up 3.3 percent over last year. That would be the biggest year-over-year increase since 2006, and the largest total since spending hit a record $452.8 billion in 2007. A strong finish could even give 2010 the crown.

http://www.huffingto…d_n_801019.html


This Week Will Tell If The Bear is Really Coming Out of Hibernation

 
Last week’s selloff did less damage than it may have felt like. The drop stopped in the area of 3 crossing uptrend lines, ranging in length from short term to long term. Here’s what would tell us whether the uptrend is still in force, or signal that something evil this way comes. I have added 8 new stocks to the swing trade chart pick list, including 2 shorts.

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