The market is acting hung over this morning, but it shouldn't come as a surprise. Typically, the Monday after Thanksgiving week has a negative bias and there are severe overbought conditions in many places as well. We aren't seeing any big rush for the exits so far, but there is profit-taking and slugging action.
Breadth is running close to 2-to-1 negative and the number of new highs has slipped to around 350. The S&P 500 is making intraday lows as I write, but there are still signs of support.
As I mentioned this morning, my primary goal at the moment is to try to keep accounts as close to highs as possible. While the market has had strong momentum, it is quite extended and new entries are extremely difficult. I can't find many new entries at all. When that happens, I shift my focus to protecting gains.
One of two stocks on my list of positive action today is Health Insurance Innovations (HIIQ) , which I've discussed previously. It has gone parabolic, but it still isn't that expensive. Its EPS have jumped 300% in 2016 to an estimated 94 cents.
The other stock of interest is my Stock of the Week, Sucampo Pharmaceuticals (SCMP) . The chart is not extended, one of the few that I could find for this week. With the solid earnings, it looked like a good candidate for a move, but it's happening faster than I anticipated.