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Why are the markets open on Veterans Day??
The US Dollar is flat this early morning with the trade at 81.090 after trading as high as 81.170, Treasuries are as flat and lackluster as can be in what many are calling the next big bubble. Energy Sector is in a sleep mode as well with Crude Oil at $86.07 up 1 penny with the rest of the sector looking for direction. Gold is continuing its climb with the trade at $1,737.10 up $6.20, 80 cents off its high, Silver is up as well trading at $32.670 up 7.1 cents after reaching $32.745 guiding the rest of the sector higher as well. Grains are mostly lower with Corn being the only exception, Live Stock Sector is closed till the Chicago open, Softs are mostly positive in trade with Cocoa/OJ trading loser. Paper Markets are once again attempting to start a dead cat bounce trying to force the hands of the Fed Res to print again before the end of the year. The biggest question I have today is why are the banks and markets not closed on this sacred day? It’s as if they’re spitting into the face of our military past and present. Those that have died or are wounded beyond repair on foreign soil deserve far more recognition, especially from the bankers and our nominated officials who never seem to have much front line experience in anything but bickering. Yahoo posted the question here (http://answers.yahoo.com/question/index?qid=20091111092621AAvzlQ5 ), and is quoted here; Veterans Day was a stock market holiday until 1953. Why not now, during 2 wars? The stock market takes holidays on New Years Day, Martin Luther King Day, Presidents Day, Good Friday, Memorial Day, Independence Day, Labor Day, Thanksgiving Day and Christmas Day. It closes early on the day after Thanksgiving and on Christmas eve. I don’t understand why these holidays are recognized, but not Veterans Day. Obviously, since it closes on MLK day and Pres Day, etc., the fact that the market is international is not really a concern. Also, after looking it up, I found out that Vets Day WAS a stock market holiday from 1934-1953. And then, from 1954 – 2006, a 2 min closure was taken on the day to recognize veterans. But, for some reason, in 2007 and on, even this was not done. While I am all about people having jobs and working, and have no problem with businesses etc. being open on any holiday they choose to, I think that the stock market does a disservice to veterans by not being closed on this holiday. In the past, the market has closed for Election Day and Columbus Day, too. I’d like to know who the governing body is that makes this decision and why Veterans Day does not rate as high as President’s Day, MLK Day, Labor Day, Memorial Day, etc.?
A deep bow of respect to you my military brothers and sisters ……. Stay Strong!!!
JB Slear
Fort Wealth Trading Co LLC.
866-443-0868 Ext 104
817-717-5489
Fax: 817-764-2537
www.FortWealth.com
Don’t risk what you cannot afford to lose….
2012-11-12 17:00:38
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