Saturday, November 19, 2011

Stock Market Video - "Expecting the Market to Try to Make Us All Look Like Turkeys This Week" - 11/19/11

Hi, traders.   I have a bearish bias heading into this week based on the action of the past three sessions on Wall Street (including Friday, which I discuss in the video), but this week will be a tricky one due to the holiday.   Monday, Tuesday, and Wednesday will all likely have lighter than normal volume, conditions that the computers just love to play with.   Friday will likely be the lightest volume of the year.   Thanksgiving week typically has a positive bias, but throw in the constant soap opera across the Atlantic along with the debt "Super Committee" deadline coming Wednesday and your guess is as good as mine as to which way we head this week.   It likely will be a choppy one so be careful and trade light.   Don't let the market make you look like a turkey by placing huge bets and being super aggressive.  This is likely not the week you want to do anything like that.

In the video, I go over why I am leaning bearish here and share some short setups that could look real nice with another few days of consolidation.   I also share the stocks holding up best after last week because I realize this market is completely unpredictable here and a few really positive sessions early in the week would not surprise much at all.

I hope you find the video helpful and informative.   As always, feel free to email me with questions or comments - I enjoy hearing from my readers.  If you like the videos, please take a moment to leave a review on Investimonials and feel free to retweet the links to your friends.  I would appreciate it.  You can also review my Twitter feed here. 

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Anonymous said...

Always look forward to your videos and the insight you give. I'm learning a lot and appreciate the time you dedicate. Happy Thanksgiving.


Mac said...

Thanks Steve and happy Thanksgiving to you and yours as well. Appreciate the kind words.

Anonymous said...

hi mac

dow closed at 11493, all shorts squared. im now on bull side (for a very short term only).