TREND TRADE: Long from open, 11/9.
SWING TRADE: Buy from open, 12/14.
DAY/SCALP TRADE: Long.
PRICE TRENDS: TQQQ, up 1 day, TNA up 1 day, up down 1 day.
With short-term breadth once again turning up today within the long-term up trend, tomorrow’s open is again an opportunity to jump on this scary bullet train of a rally as it continues to whoosh by.
Stocks from my nifty-fifty stock list giving new individual buys today were FIVN, LSTR, TRMB, and TWI. Others of note giving individual buys signals for tomorrow included FB, CMCSA, AMZN (might be an option play) and NFLX (ditto the option play).
But virtually all index ETFs, even though overextended, are in play on the short-term breadth signal — TQQQ, TNA, UPRO — for day trades certainly, and possibly swing trades for more than a day.
Much of the prospect for success on this setup will depend on the Fed Reserve decision tomorrow and the market reaction to it. Just saying…
UPDATE 12/14 close:
Yes, much depends on the market’s reaction the Federal Reserve’s rate hike. And the reaction was down and as the market goes so go most stocks. Of the four stocks on buys today from the Nifty-fifty-list, one was up (barely) and three down for a loss of 1.2% on the entire basket. So it goes.