Happy Turkey Week to you you all! Like most of you, I can’t wait for Thursday to roll around so that I can stuff my face with turkey, mash potatoes, and momma’s apple pie. There is no doubt a lot to be thankful for, and I plan on taking some time to reflect on that this week sometime in between all of those great football games.
Now on to the markets… things are looking pretty good out there for the bulls heading into the open with US Futures seeing the Dow up 93 points, the Nasdaq up 18, and the S&P up 12 points. Overnight, the Asian markets performed well with the exception of the Nikkei (down 0.5%) while the rest of the indices were up almost 1.5% on average. European markets are all trading solidly in the green up over 1.5% as well. We got on e report coming out today at 10am and that is Existing Home Sales.
With the shortened week at hand, we’ll likely see some very light volume throughout, which could add to the volatility and price action we get out of equities. Remember, the markets are closed on Thursday and only open until 1pm on Friday.
Currently I am long on AAPL at 198.89 and PETS at 16.43. I got stopped out of KWK on Friday. I’ll likely look to add another position to my portfolio today. As always, I will keep you posted.
Be on the look out today for new screen on who were the top Retail Christmas stocks from last year from a trading point of view.
Here are Today’s Trade Setups…
Bullish Candle Setups: TRMA, TUR, JOF, UBSI
Bearish Candle Setups: WIT, BSV
Stocks Ready to Bounce: HOTT, GHL, ISIS, ITMN
Stocks Ready to Pullback: SMTL
Breakout Stocks: SKIL
Breakdown Stocks: PVA, ADTN, HPY, BIG, CMTL