In my prior posts I published some studies that show a strong market close on Tuesday may be an indication that the pre-Thanksgiving trading was being front run. That appears to be the case so far this morning as some of the indices are drifting lower on slightly positive breadth.
I am having some luck today with Nutanix (NTNX) , Trillium Therapeutics (TRIL) and I like some of the setups that are developing on pullbacks. I don't see any reason to believe that downside momentum is going to build.
I'm generally not a value investor but one group that is starting to look interesting is Master Limited Partnerships. Tailgrass Energy Partners (TEP) for example, has had a number of insider buys lately following a good report. The stock continues to trend lower, forcing the yield even higher. There is still minimal support, but the group may be an interesting safe-haven if there are issues with the broader market.
Stay focused on stock-picking and don't be too quick to decide that yesterday's strong momentum is finished. If anything, a pullback here is more of a positive than a negative.