While Santa seemed to be stuck in traffic today, the indices finished relatively flat and the action was very mundane. Under the surface, little elves looking to push stocks around while big institutions took the day off, made for some profitable short term trades. Other than taking some profits off the table and some small portfolio tweaking, Shark HQ remained pretty quiet today.

 

Networkers led today, followed by retailers and semis, all boding well for the potential of further upside. Retreating today was oil, however it made a stellar comeback after being punished early in the day and the group may be setting up for some good upside trades. .

 

We aren’t changing our thesis that a light volume rally over the next couple days is very possible, however with opinions very strong one way or the other, the stage may be setting up for continued quiet action as the bulls wait for the bears, and the bears wait for the bulls.

 

We remain optimistic that Santa will bestow some gifts on us however we will remain flexible and will strive to keep accounts near yearly highs.

 

We’re whipped and it’s that time to relax, enjoy some eggnog, celebrate the Holidays and we’ll see you next week. .

 

Happy Holidays to all, and to all a Shark Night!

 

RevShark & crew