Tuesday, November 23, 2010

Some thoughts about this week

I know the term is rather overused but I feel this is a stock pickers market. As far as the overall markets are concerned, I wont be completely bullish until 1207 is crossed. What worries me at the moment is the overwhelming bullish sentiment about Thanksgiving week, that the market just can't go down this week. But again, as long as the support holds, it doesn't really matter if you are in the right stocks. I think the markets are going to be choppy here, so its best to go with momentum stocks, not get too greedy, take profits quickly and losses even more quickly.
Take care and good luck!

1 comment:

Bill said...

i agree with you about holiday weeks in general but its statistical that there is significant low volume trading during the holidays. That can be good or bad depending on momentum but overall i would say bad news is absorbed better during these times just strictly based on the fact most traders don't want to change positions right now until after jan 1. Although Dec 1-15 is always intersting.