Don't laugh off Friday PDF Print E-mail
Written by Gary B. Smith   
Sunday, 29 November 2009 10:43

For most pundits, a day like this past Friday is often thought of as an after-thought.  Almost like no matter what happens, it doesn''t matter because it's not a "real trading day."

Yet, while that's sometimes the case, when you combine fairly signficant news (i.e. Dubai) with some heavy-for-a-holiday trading), I think you get at least a day to keep an eye on.


Specifically, volume WAS fairly high for a Black Friday and the market DID close below both support and the trend line.  And while it may be nothing, I'm not about to ignore it.

 

                   Don't laugh off Friday

 

As for last week's picks, actually not bad considering Friday's rout to the longs. Winners were SJM, LEAP, ADI, and DSW.  SKIL, GFA and ZION were losers, while UPL is up from the open, but probably too early to call.