Stock Market Watch

Thanksgiving Week Recap

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This week saw my longer term trading signal roll over and signal that it is not safe to be holding momentum stocks at this time. It doesn’t take a genius to see that the trend on all time frames remain down, but it does take a lot of restraint to keep oneself from gobbling up what looks like cheap stocks. Because if my hunch is correct they’re going to get a lot cheaper. Yes we are overbought, but until we see a high volume flush out day we’re just going to grind lower. Watch for a day where the Nasdaq eclipses 2.5 billion shares and then start nibbling on some overbought plays. I mentioned a few that I like in this post.

Financials look sick and like they want to retest the 09′ lows.


Just when the homebuilders looked like they wanted to buck the markets, they falter at support.


Dollar looks like it wants to test the 11′ highs. That’s my next target.


Remember when this was at $120 and Karen said it was going to $50. I do because I wanted to buy calls on it then and she advised against that trade. That was a freebie – imagine what’s inside her Astrology Traders Premium Service. And if you are on the fence at all, now is a good time because a price increase is coming soon.

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Post Written By: Zen Trader


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Ed Liston

Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing.

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