Good evening StockBandits!
The NAZ led the indexes last week with a strong showing on Friday to close out the week on a positive note. The tech-heavy NAZ broke out once again through resistance at 2205, finishing 6 points above that key level. The DJIA and S&P 500 weren’t quite as impressive, as they ended the week still in their trading ranges and beneath key levels at 10,500 and 1113, respectively.
This week we of course have Christmas on Friday, along with an early close on Thursday (1pm ET). Although traders will only have 3 1/2 days to be active, it generally is a very drifty trading environment with extremely light volume. This time of year, interest in the markets tends to get eclipsed by things like travel, family, shopping, parties, and wrapping up loose ends ahead of the New Year. That’s perfectly alright, but we must be aware of it since the market usually behaves differently for the final 1-2 weeks of the year. As a result, I’ll be trading much lighter this week since the liquidity won’t be up to normal standards, and I also will not be adding any new swing positions, instead focusing on shorter timeframes.
Friendly reminder: I’ll produce the Bandit Broadcast through Tuesday, December 22nd, and then be done for December. I always take off the week between Christmas and New Year’s, but have no intentions of returning to trade on New Year’s Eve since it’s such a quiet day. The end of the year is a great time to reflect, rest, and renew goals for the coming year, so I’d encourage you to do the same. I also wrote about this on the blog. This way, we can hit the ground running from the very beginning in 2010.
Please leave your comments and/or questions below if you have any, I always enjoy the interaction.
Here is tonight’s video:
The Bandit Broadcast Video – Click to Watch!
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Video Stocks Discussed: NTRI, HUN, CYH, PVH
Swing Trading Candidates:
NONE TONIGHT – Will add swing trades again starting in January, but end-of-year cross-currents tend to impact traditional technical analysis so I’ll hold no more positions during December.
Bullish Watch:
NTRI, F, RMBS, LNCR, JOE, HUN, CYH, BEXP, LEAP, MRX, DWA, JASO, ENI
Bearish Watch:
WYNN, SINA, NFLX, PVH
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.
