A nice start to the week with leading stocks continuing to show outperformance. The NASDAQ was the biggest gainer on the day with a huge boost by the move in AAPL. Small cap stocks came in a close second, but this Santa Claus rally appears to have legs heading into tomorrow’s shortened session. TWTR continues to impress with its move out of its IPO base. Volume on the day was lower on the session, but given Friday’s quadruple witching it would take a huge day to overcome the volume. A great start to the week and given the move made by the stock market’s last week we continue to be impressed with this market.
AAPL was able to land a deal with China Mobile helping today’s move. However, if anyone was paying attention a few months back had noticed the stock was being accumulated. AAPL is a large portion of the NASDAQ and therefore should be watched. Much of the NASDAQ’s performance is driven by AAPL. If the stock continues to pound higher the NASDAQ should follow along. It is important to see the likes of AAPL move higher as it will help the broader market.
While large cap technology stocks may be where the indexes get their performance individuals can certainly make hey with the likes of HTHT and TWTR. HTHT broke out of a nice pattern today and TWTR continues to push higher. FB is another name we have continued to see solid performance from. Stay on these hot stocks and ride their moves. If you want to perform you have to be able to hang onto these higher fliers.
Now we’ll get the onslaught of 2014 predictions. I am sure the market pundits will lean towards another positive 2014. Why not, after such a strong performance in 2013 why shouldn’t it continue? We aren’t about to go ahead and begin to write such nonsense because how would it even help anyone with their trading. When would you know you were wrong and had to exit the position? Short or Long? CNBC et al love this time of year and get predictions from those who really haven’t got a clue. Ignore the predictions good or bad. Stick with Big Wave Trading.
Ride those winners higher and cut those losers. Remember, you have until year-end to take advantage of our 40% off deal. Use coupon code: YEAREND. Aloha
