According to several research reports, it appears that foot traffic on Black Friday for this year increased slightly compared to that of last year. The National Retail Foundation’s (NFR) stated that there was an increase of 4.8% from last year. However, the average consumer had spent about 3.5% less than the previous year, an estimated $347.44/person.

I wouldn’t give the above numbers much merit. There is much more to be considered and tallied to render a more sufficient outlook on the strength of the holiday consumer spending. But, let me add, there are opportunities galore in the retail sector worth examining. This remains a “stock-specific” market! Amongst the names I like are the following: JCP, M, KSS, LTD, and AEO.

As to the technicals, 12850 for the DOW is critical. We will revisit this level very soon, though tomorrow might close higher. I began a new short pyramid on DIA as of last Friday at 129.58. My last pyramid stemmed from 127.50 to 141.75. I covered that entire pyramid with huge success, though times were painful. Tomorrow, I plan on shorting the peak on DIA, adding further to the 129.58 pyramid.