20,000 Leagues Under the Tree for Christmas

The chase to hit 20,000 on the Dow Jones Industrial Average seems to have taken on a life of its own in both the financial and non-financial news media. Considering the Dow toyed with the 1,000 level from the 1966-1982 secular bear market, I understand the concept that big round numbers on the Dow may be a bit more than a novelty. 

At this point, though, whether we actually hit the number is arbitrary since we are basically already there. Still, this type of scenario can often be a self-fulfilling prophecy and we may just tag it just for sake of it. Looking out the next few months, the true test will be whether 20,000 eventually becomes support. 

In lieu of becoming infatuated with where we exceed 20,000 by Christmas or 2017, I am looking to see if some of the traditional "holiday trades" like beaten-down TWLO and even BBRY continue to take shape.

Also in focus are names like Pandora, both a buyout target, improving chart, and heavily-shorted for a squeeze, to boot. 

Beyond that, subsections like the cruise lines are worth a look, with CCL rallying after earnings this morning. I will follow-up on this theme for Members in my usual Midday Video.