Another Pullback
22nd November 2009
As we anticipated last week, the stock market began its Thanksgiving vacation a little early. The most recent high was reached on considerably less volume than the last one, which could be a problem for the bulls. Look for the market to drift back down to support at its 50 day MA in the holiday shortened week ahead. Rather than initiating any new positions this week, take some time to evaluate your trading over the past year. That way, you will be in a better position to place better trades when everyone gets back to work to finish out the year with what is likely to be a strong finish in December.
JD
