subject: Stock Picks Pt1 [print this page] Daily Stock Report for Wednesday Morning, November 25, 2009 pt1
The stock market had little change today on very light volume due to the Thanksgiving week. Remember that Friday is a short day closing at 1pm ET.
The Nasdaq Composite was slightly lower closing down 0.3% today with tech stocks getting slightly more selling after Hewlett Packard said conditions remain challenging.
Substantial economic data will be released on Wednesday with the New Home Sales as probably the most important considering Mondays existing home sales was better than expected.
We frequently see the day before and the short day after Thanksgiving has wild moves in stocks and we are seeing speculation this week in NLST, SEED and now SQNM today.
And it is an excellent time for experienced traders and aggressive investors with high risk tolerance to create very small short positions carefully with these as well as watching for short opportunities, see Aggressive Investors box below.
REPEAT: The week of Thanksgiving usually has a bullish bias to the market as many traders are taking the holiday week off. The day after Thanksgiving, known as Black Friday will give us some indication of retail sales and an indication of what the Holiday sales will be. This year in particular, the market analysts will be using this as an important indication of the state of the consumer, which is the biggest driver of the market. NOTE: This Friday is half day trading and closes at 1pm Eastern time (ET).
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