Major indexes are up today in light trading, it appears that yesterday’s distribution hasn’t destroyed the Santa Claus rally yet. Wall Street seems to be lacking conviction and we are going to have a hard time breaking out past the 50 day moving average. Since the long term path of least resistance is still sideways I’m waiting before I enter.
An interesting stock I ran across today was SWHC, I’m thinking it could be a great one to swing on.
Nasdaq New High / New Low 12/29/2011
Primary market indicator suggest the safest place is still in cash.