Fat from Turkey day, the Street may be in the same upbeat mood

Going into the Thanksgiving weekend, I was worried about when the market would snap out of its rut. For a while, the market has worried about the declining value of the dollar, rising gasoline prices, and overall economic sluggishness.

The last trade I made last week was to buy more Nasdaq QQQQ Dec '07 options at 51 on the belief that Thanksgiving weekend retail sales would be both great and the news the market needed to get out of its rut.

So far, half of that has come to fruition. The numbers from this past weekend have been good (article here). Now I hope Wall Street will respond in kind, and really get the magic back.

Update: Asian markets are upbeat on this retail news, so Wall Street seems more likely to follow suit.