The Holiday Stretch

While the Nasdaq is red this morning, the other major averages are green as many individual issues are stretching higher yet into the holidays. The market will close early for Christmas Eve tomorrow, followed by a day off on Thursday for Christmas Day. Issues such as MRGE RRGB TXRH ZAYO ZEN are still reasonable long setups into further strength, while major biotechnology issue GILD is following-through lower from the potential bearish breakaway gap lower we looked at yesterday. Also note that some plays, such as BABA, likely had too many eyes on it for it work on the long side. I still have my eye on a CORN long add to my current position, as well as to TBT. I still hold my UNP short as it drifts up, looking for some selling to come back into play soon.