The back story: Historically speaking, Black Friday is one of my favorite days of the year for trading. It’s a half day, all the institutions are closed, but the retail guys are trading. A lot of low-float stocks that already have light volume become extra volatile on a day like this; find something with news or where the chart is set up and your gains can be amplified. If you’re a day trader, it’s a fun day.
What I’m looking for on Black Friday: Low-float small-cap stocks, and large-cap stocks coming off a base on the bottom or a breakout stock can that can continue to break out to the upside. Anything where I have reason to expect a move that could go higher, and where I think I could benefit from the extra volatility.
Why you need to look at trading on Black Friday: Someone in your house probably is going shopping. This is going to be an expensive day for a lot of people; you have to pay for all that shopping somehow, and the market on a day like today is the place you should be looking for your bargains.
Jeff Bishop is lead trader at TopStockPicks.com. He runs short-term trading strategies, primarily using leveraged ETFs and large-cap stocks. He is planning to spend his Black Friday as described in this article, shopping for stocks
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