Good evening StockBandits!
The action today was muted but positive once again, as the bulls continued to make their presence known by maintaining a bid beneath current prices to avoid letting the market slip. The slow drift up is common to see within uptrends like this, particularly when the trading volume is as light as it is on a holiday-shortened week.
Tomorrow is the last session of the week, and the final session ahead of Christmas with the market being closed on Friday. With that being the case, we can quite likely expect minimal volume, and somewhat limited price action as the day progresses. Traders (myself included) will be slipping away from the screens once the morning has passed, and moving on to spend time with family (as we should) for Christmas. It happens every year, so even if your intent is to stay at your desk and trade the entire session, just keep in mind that the action may be drifty at best if there’s not sufficient news to propel the market one direction or the other. It’s an easy environment to overtrade, so avoid making that mistake in front of the long weekend.
I have just a handful of stocks on my radar for tomorrow, which I’ll cover momentarily. I wanted to note that I will have a Broadcast here on Sunday, so slip away from the relatives sometime on Sunday and round up back here for a game plan heading into next week!
For tonight, my notes are on the charts below for index levels and potential trades I’m eyeing for Thursday.
Please leave your comments and/or questions below if you have any, I always enjoy the interaction.
Swing Trading Candidates:
NONE TONIGHT.
Day Trading Candidates:
These are the trades I’m eyeing for potential plays tomorrow. I will not be holding these overnight, and will wait for these levels to be crossed before entering trades.
Bullish Watch:
BYD, MELI, LNCR, GTI, MICC, MFC, ODP, ATML, OII, ALXN, CNQ, BLL, YOKU, DANG, NAK, MAS, ISIL, SLV
Bearish Watch:
MA, BIDU, VRSN, SLW, AEM, LVS, BYI, MCO, BVN
The Hit List contains stop and target levels for my swing trades.
