Good evening StockBandits!
I hope your Thanksgiving was wonderful and relaxing, and that you were able to spend it just how you had hoped!
With a holiday-shortened trading week due to the Thanksgiving holiday, the volume was extremely light last week, as expected. That didn’t stop the bulls from jumping out to an early lead with a gap-and-go Monday, but by the end of the week the momentum faded. Friday’s half session was marked by another sizeable gap, but this time to the downside.
True to form, the buyers stepped in once again to buy the dip, helping the indexes recover from their worst levels of the session to whittle away at the day’s losses, though it still resulted in a decline. Interestingly, all the back and forth excitement resulted in a virtually unchanged market on the week, as the S&P 500 finished where it ended the previous week. The NAZ lost only 8 points, and the DJIA was down 9.
So we saw the market go nowhere on a net basis last week, which means we could see something more exciting this week as more traders return to their screens. My game plan is to tread with caution on Monday until we (hopefully) see volume return to normal levels. If it does, I’ll be on the lookout for more swing trades as the week progresses. If volume stays light, my shortened timeframes should serve me well.
Tonight’s Broadcast will be written format once again, but we’ll return to the video format tomorrow. I’ll be traveling on Sunday, which is why this is being published on Saturday. I’m setting up several day trades heading into Monday, so here’s what’s on my radar with my notes on the charts themselves.
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Day Trading Candidates:
Bullish Watch:
ACL, CAAS, RINO, HOLI, DLB, LFT, TSTC, ADI, LZB, SEED
Bearish Watch:
AYE, LUK, BEN, OIS, ABAX, STT, GMCR, CRZO, ENER, TXI, ABFS, NUVA, SCHN, UNM, MLM, VMW, MAN, LTM, BBT, RVBD, MDC, MHK, PEET
The Hit List will be coming out soon with discussion on open positions and swing trade stops and targets, so be sure to watch for it.
