More Holiday Action
On Friday, the Nasdaq started strong but then drifted and
chopped to close poorly.
Once again, the good news was it was able to close higher.
Once again, the S&P was able to put a few points on the
board.
So what do we do? I guess by
now, I’m beginning to bore you to death. Nothing much has changed,
though. The
indices continue to creep up in thin holiday–season
trading. And once again, they remain above key levels. Therefore, continue to
look to nibble on the long side, but avoid making any big bets until we see how
the market reacts next week when the big boys return.
Looking to potential setups,
Mentor Graphs (MENT),
mentioned Thursday night, still looks like it has the potential to rally out of
a Trend Pivot Pullback. Just make sure you wait for an entry (above the pivot)
as it was down on Friday.
Best of luck with your trading
on Monday!
Dave Landry
P.S. Reminder: Protective stops on every trade!
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