28Nov1:10 pmEST

A Run Towards the Christmas Markets

Markets seem to be in the holiday spirit again today, as the indices defy the many top-callers and drift on higher. To be sure, there are still pitfalls, as we are seeing with the high beta China play, MOMO, getting wrecked on some news. 

Our focus for Members remains on sticking with the very best long setups but not becoming sloppy, either, and complacent. As an example, we used the morning strength to sell a ROKU long from last week around a $40 entry. While ROKU may indeed keep surging in the short-term, a move this fast is often a decent spot to lock in gains. 

In addition, we are also sizing up some standard holiday traders, such as large cap Nasdaq leaders which have been quiet of late but may now be ripe to run into Christmas and the holidays. 

On the Netflix daily chart, updated below, we have a fine example of that type of setup. NFLX is waking up today, and I would not be surprised to see a rally into the holidays, especially with the manner in which $191 has held as support. 

RV's Cruising Along Death Valley for Shorts

 
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