Merry Christmas or Happy Holidays. Hope you are are having a wonderful time. I doing the Daily Analysis an hour before the market closes today because I am going to a family Christmas party very soon.
The market (as of right now, 12:03) has been a non event. Very tight trading range and not really much today. Non really a win for the bulls or the bears. The QQQ's were a tad stronger today, likely because of Apple being green. I wouldn't think to much of today.. Could have never happened and it wouldn't effect anything. Currently I do think I will be initiating any new positions before 2013 just because there is the risk of the fiscal cliff and we seem to just be stalling and moving sideways. New money comes in in January and then we will likely continue up - I do not think you will miss very much this week. The banks are still you friend and more than likely I will be buying (like $BAC) some of them early January. I do not think it is wise to chase the price the last week of the year. Let the trade come to you. Even if the market does move this week it will be on light volume and will likely move event more once the new year comes around.
Overall, keep your eyes on the banks. They will continue to be your friend in at least the first part of the new year. Keep an eye on Apple as it looks like it could be trying to build a lower base. Needs to get over 555 first though. Amazon continues to perform and will likely take out the all time highs. Facebook has been very well and I suspect it to continue to do well in January/2013.
Have a nice holiday. Remember to come back here on the 2nd of January to see my 2013 predictions with Price Targets! Spread the word!
If you would like to contact me visit the contact page.
The market (as of right now, 12:03) has been a non event. Very tight trading range and not really much today. Non really a win for the bulls or the bears. The QQQ's were a tad stronger today, likely because of Apple being green. I wouldn't think to much of today.. Could have never happened and it wouldn't effect anything. Currently I do think I will be initiating any new positions before 2013 just because there is the risk of the fiscal cliff and we seem to just be stalling and moving sideways. New money comes in in January and then we will likely continue up - I do not think you will miss very much this week. The banks are still you friend and more than likely I will be buying (like $BAC) some of them early January. I do not think it is wise to chase the price the last week of the year. Let the trade come to you. Even if the market does move this week it will be on light volume and will likely move event more once the new year comes around.
Overall, keep your eyes on the banks. They will continue to be your friend in at least the first part of the new year. Keep an eye on Apple as it looks like it could be trying to build a lower base. Needs to get over 555 first though. Amazon continues to perform and will likely take out the all time highs. Facebook has been very well and I suspect it to continue to do well in January/2013.
Have a nice holiday. Remember to come back here on the 2nd of January to see my 2013 predictions with Price Targets! Spread the word!
If you would like to contact me visit the contact page.
