16Dec10:54 amEST

They're Not Playing for a High First Round Draft Pick

Unlike in professional sports, such as at this point in the NFL season, the very worst performers in the stock market have no (legal) incentive to intentionally tank all the way and position for a high draft pick. 

With that in mind, at this stage in the year, the notable laggards like FIT GPRO, even TWLO, and solars to boot, are at a moment in time where they probably should enjoy a relief rally throughout the holiday season. 

To be sure, the likes of GoPro, below on the daily timeframe, remain in steep downtrends, which means bounces are suspect until proven otherwise through substantial technical improvement. Thus, looking at these types of plays as quick scalps or by using smaller-than-usual position sizing for overnight swings makes sense, at least until full-blown rallies are confirmed off recent lows. 

Elsewhere, some ADBE ORCL post-earnings weakness does not seem to be weighing too badly on the market.

Overall, the market seems to be infatuated with Dow 20,000, even if the big round number seems arbitrary from a technical standpoint. 

Stock Market Recap 12/15/16 ... Whole Year for Whole Paychec...

 
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