Good morning. Futures are pulling back. Ironically enough morning weakness is a prevailing theme in markets that grind higher.
Out of weakness comes strength and this market has strengthened its way to a new all time record high yesterday.
I've been waiting for momentum to roll, and we are nearing that point. Which I think may put this market in for another early December slide and late December recovery.
Too soon to know for sure but here is momentum on SP500 futures rolling.
However I don't want to jump the gun. And the latest run up has been ugly for those shorting the dips. Buy the dip still working 10+ years later... and at lifetime highs no less.
Some of the recent pull backs have been quite nasty. Especially to the growth names. Remember the last one had the software and cloud names getting shellacked.
While we wait for momentum confirmation - I like a few longs over the short term.
I think WYNN is setting up for a move to the high $120s.
WYNN
I like $PD ahead of earnings at the start of DEC. My DEC $25 calls have already worked out nicely.
I think the weed stocks are going to smoke again for a short term pop.
I'm in TLRY calls
And I like X for a move higher into years end.
