Watchlist: 12/27 It’s the End of the Year as We Know It

Market Notes:

Today is the last trading Monday of the year. After a three-day weekend, the market has exactly one week of trading to go in 2021.

Historically the “Santa Rally” returns a cool 1.3% for the S&P 500 over the next seven trading days. After closing at a record high last Thursday, there is no overhead resistance to prevent Santa from delivering.

I’m still holding TNA in anticipation of the continued “January Effect,” where small caps outperform the big caps. My first profit target is $88, up from about $70 last week.

As volatility slows, the market is getting more and more risk on. Bonds are moving lower, and I expect existing trends to hold true.

^Bitcoin, the riskiest of the assets I hold, is above the key psychological level of $50,000 this morning.

I’m bullish and risk on myself. I even opened a new position on Thursday, and details are below.

Watchlist:

*Low Float
^Open position

*BFRI has resistance at $14
*TRT has support at $11
*^SLDP has resistance at $11
*SRTS has support at $8
GRTX has resistance at $5
^SEAC has support at $1.80
ASRT has support at $2
LLNW has resistance at $3.80
*QTT, BORR, NAKD are reverse splits I’m keeping an eye on

^XXII makes “reduced nicotine” cigarettes and spiked after the FDA authorized it to market its cigarettes as “Modified Risk Tobacco Product.” Becoming “the first, and most likely will be the only” to carry the designation. I think this is big news for the company.

The chart isn’t the prettiest, but the volume is the highest the stock has ever seen. I am holding a position and could buy more on a dip below $3. A close below $3 will get me out. I’m targeting $6+ for this swing trade.

XXII 1-day candles – Chart via thinkorswim

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