Markets again closed in a quiet like manner. Volume was again tame as should be expected for the remainder of the year. Gold and silver stocks were among the days best performers. Gold climbed above the $1400 dollar level and silver rose 4% to a 30 year high. Breadth was negative.
Stocks near specific buy points are: LOW @25.96, MT @38.90, BCSI @30.76, PAYX @31.39, TC @14.25 all cup with handles. FAST @60.25 in a 3 week tight pattern and USB @28.53 in a cup base.
Stocks near their 50 day MA are: ALV @76, F @16, TRW @50, WYN @29.50, NBL @83, PTEN @20.50, CTXS @66.50, PMTC 22.10, RHT @44.25, CRM @129, VRSN @32.10, RVBD @32, TDC @41, TRMB @38, EXPD @53, KSU @46.50, UNP @91, JCI @37, JWN @41.25, UA @53, COH @54, GSM @16.60, TAP @49, BRCM @43, OVTI @28.50, TXN @31.50, PAY @36, AGP @44, XXIA @16, BMC @46, HRC here, MCHP @34, MSCC @22, MIPS @14, EMR @56. Stocks that can be bought as they break above their 50 day MA are VNO @84.25 and AMT @51.50. PBR can be bought above its 200 day MA @36.80.
KKR is drifting back towards its 13.85 buy point in a flat base. STT is forming a handle.
ETFs near entry or support levels are: TBT which rallied 4% today after support at its 200 day MA. FXI also found support at 42, its 200 day MA. GLD has rallied off its 50 day MA.
Stocks showing weakness are: RES under 18, its 50 day MA. PVH lost its 50 day today. MRX found resistance at its 50 day. LTD is now looking like its living comfortably under its 50 day MA.
Good luck. Will be taking a break until the New Year. Have a happy and safe New Year.
The author owns CAKE NVDA ARMH CHRW X DE VRSN KKR WCRX SDS. Short TTM EBAY.
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