Good Morning Traders!

I hope everyone had an awesome Christmas and that Santa Claus brought you everything you were wishing for.  The last 4 trading day of the year are likely to be very choppy and anemic on volume.  Although, we have some economic data this morning it’s unlikely to inspire much activity this morning because so many of the big trading firms are simply on vacation until the 1st of the year.

Of course, there is always the chance that stocks could produce good entry signals but the chances of them really making a substantial move are unlikely.  As for me, I will always be looking for good chart setups but as far as entering new trades that would be questionable.  I will, however, move forward with trade plans so that I can be prepared to enter them when the volume returns.

Have a great day!

Trade Wisely,

Doug

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Good Morning Friends!

Again very little to say this morning except that today volumes will likely drop like a stone after the open flurry.  There are days to trade and days to sit on your hands.  Today would be a very good time to build watch-lists and get a head-start on 2017 business plans.

I wish you all a Very Merry Christmas.

Trade Wisely,

Doug

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Good Morning Friends!

Pretty much out of the things say about this market as the holiday draws ever closer.  Expect more of the same.  Light volumes, choppy action after a morning pop responding to the economic news.

Work on watch-lists and trading plans.

Trade Wisely,

Doug

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Good Morning RWO it’s hump day!

Yesterday we saw the bulls make another push toward the big round number of 20K, closing less than 70 points south of it.  Our option positions. as well as the stock positions that I have been covering. are all doing quite well.  Although common sense would suggest a pullback is in order, there is no evidence in the current price action of the indexes pointing south just yet.  As I always suggest, following price action is better than trying to predict.

Today we have housing and oil numbers that could move the market so keep any eye on the news at 10 AM eastern time.  From here on until the end of the year we should expect light volume choppy price action after the morning rush that normally lasts 30 minutes to an hour after the open.

This is a great time to build watch-lists and refine them.  For those just beginning work on the patterns you intend to trade, goals, risk tolerance etc..  Manage the positions that you are in but it’s time to slow down on entering new positions.  Be very picky.

Have a profitable day.

Trade Wisely,

Doug

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