Nobody who's anybody on Wall Street works the day after Thanksgiving. Last week was another ugly one for the Nasdaq, but it would've been worse if the Nasdaq Index hadn't popped up 5.4% on Friday. You may recall, a couple years ago, when some small crazy tech stocks went to the moon the day after Turkey Day. All those furtive day traders didn't have to hide from their bosses, they had the whole day to play trading games. And a couple weeks ago, I discussed evidence (hundreds of rapid-fire, small trades) that day traders had turned their attention to monster tech stocks, which have vast liquidity compared to the dot.coms. So maybe they're the ones who loaded up on stocks on Friday. Lulled by a fabulous feast the day before, I didn't drag myself down to the office to find out.

What else can I say except the election is taking its toll on the market? You can argue that we'll have gridlock regardless of who ends up as President, and not much will come out of Washington for the next four years, but the stock market hates uncertainty above all.