Holiday Mode

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Almost unprecedented sideways action on the major indexes this year doesn’t do much to excite as we stare down the tunnel to the year’s end.

We’ve played it cool all along here, staking out a few breakouts here and there, sticking to our guns and avoiding the traps that seemed to have gobbled up many a fund over the past 11 months.

Modest accumulation could mean more upside. But we’re sticking with a broader market Sell Bias. It’s a picker’s market.

Perhaps next year will produce more turkeys, long or short.

We’re happy to see homebuilders make a push out of a long base here, as seen with the ITB:

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This has been on the radar all year.┬áReasons are still good to buy. Let’s see what the Fed unfolds.

Still, only┬áTAL Education Group (XRS) meets the strict criteria for the weekly screen. BUT, it’s been on a killer trajectory since breaking out. The 45 mark will make a 20% return from a 38 buy point.

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Mortgage maker Walker & Dunlop (WD) appears poised for more after regaining upward momentum after a pullback from hitting its 20% mark. Cash register already rung. Ideal money management means taking half off at 20% and letting the rest ride.

Stay tuned.