Eight Trading Days Left in 2009
The stock market remains stuck in a trading range. While I'd like to think the market will breakout higher it looks like odds are growing for a correction in January. That's okay. We could use the pull back as a new entry point to launch positions. Unfortunately that's going to require some patience on our part as we wait for January to get here. Sometimes the best trade is no trade at all.
FYI: If you must buy something I think Kansas City Southern (KSU) looks good. The stock is outperforming its peers and has broken out over resistance at $30.00. Your challenge will be where to place the stop loss since we're expecting a market-wide dip in January.
No new trades tonight.