High profile stock action is where we find ourselves.Big short-float percentage; few shares available to short; well typically equals what is called a ‘squeeze’. The bears, or loud pundits, who never bought the stock, will try to scare investors into selling, often after that crowd shorted. Of course if it doesn’t work, the shares go higher and the bears will hibernate. It very well will find some short-term top; perhaps around CES -new deal likely being presented, perhaps related to Nvidia and automotive- and we’re not at all chasing it; the bears are because they are in trouble with their shorts. We are interesting in trimming or protecting gains, but not necessarily when we’d hear a critic / pundit proclaiming how much trouble looms. . . for them. Hah.)Market X-ray: the Quantum Computing stocks are roaring; the market sure did allow those to ‘correct’ in the past week; and now back on ‘front burners’. I think those depend on fundamental progress, sales and so on; more than just technical trading data; but it all comes into play.November was great; December’s first half was expected to be defensive and it was for a lot of stocks, even Indexes. Now you have pundits continuing to tell investors to sell (actually they’re not legally allowed to tell them anything, but it is a different era since the days in which compliance was strictly meaningful to anyone who wasn’t a client, customer, subscriber or fund holder).All that matters for now (other than extraterrestrials on the New Jersey drones . . . just teasing!!! .. I think) is the next two weeks and some sort of year-end.. oh Santa Claus.. rally. Like I say, more ‘bling’ than lumps of coal.Bottom line: hot traders might or might not cool off. I just don’t know. I agree with being a little protective; but option strategies can be expensive to protect gains, and writing Calls will take you out of a stock you might want to be in.So it depends. IF we get a solid advance into January, I’d be more inclined in a couple stocks; more so than now, when I’m open to more late year upside.Thus no change.More By This Author:Market Briefing For Monday, Dec. 9
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