There is a perfect set up for a brief Santa appearance. Listless market, steady build up of negativity. Negative economic news. Terrorism fear. Thin trading environment. All this bode well for a Santa rally and I would not be surprised to see some action in the market till end of year.
If you are looking for quick buck, keep a close watch on the top momentum plays. That is where the action will be concentrated.
6 comments:
i feel like this market could go hard either way... santa or satan?
REIT stocks getting mushy (SPG, IYR, ARE) IYR gapped down below MA50 today
FRPT = news catalyst - gap up
NDAQ mushed below its MA200
Looks like they let out the bears out of the cage early morning, I am in and out attending Kids school X mas party, but we should be positive by end of day. Santa rally stil a higher probability.
makes sense - as for me, i am just looking for small day trades here and there - wouldnt initiate any longer term positions
enjoy the xmas holiday and party!
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