During this light week of holiday trading, I’ve mentioned a few stock picks I was looking at. I sold MPEL - Melco PBL Entertainment (Macau) LTD. last week. I was too aggressive by buying a second entry. The next buy signal I mentioned to watch for was a higher high on the daily chart. We got that Wednesday when I returned. You can see there were then multiple entry signals, as shown on the 5-minute chart. The stop-loss could be set by placing it under the low of the previous day, and taking a 1/3 off the table at set targets.

The ETF QLD - Ultra QQQ Proshares was another stock pick to watch for this week. With a buy over it’s higher high candlestick on Wednesday, I’m using a loose pivot stop for QLD. The stop is set below the Tuesday low. QLD touched it’s 50-day moving average today, so the stop goes to breakeven at 81.10. I won’t raise it now until the ETF first goes higher (1), then drops to form a pivot (2), then goes past the previous pivot high at point 1. That’s the current plan. Obviously if bears are in control it will get stopped. I’m still bullish.

I entered AEM - Agnico-Eagle Mines Ltd. yesterday as the XAU.X popped as predicted. After gapping higher, I waited until AEM pulled back and formed a higher low. This is a more conservative entry. The stock is then in an uptrend on the 5-minute chart. Here’s another example of this trading pattern. You really have to be patient with these gold stocks. I’ve got a stop of 40.58 on it. The target is over 45 if Agnico-Eagle Mines can push through the 20 dma. AEM stalled at the 20 dma yesterday, and today it’s testing the channel trendline it broke. If it doesn’t hold the breakout, I’m out.

We’ll have four days off with the market observing the regular 2007 NYSE holiday schedule for New Years on Monday, and in remembrance of President Ford Tuesday. Enjoy the holiday.

Mark your calendars and plan your vacations around the 2007 NYSE Holiday schedule. Here’s the days the stock market will be closed in 2007 to observe the U.S. National holidays.

^** Washington’s Birthday was first declared a federal holiday by an 1879 act of Congress. The Monday Holiday Law, enacted in 1968, shifted the date of the commemoration of Washington’s Birthday from February 22 to the third Monday in February, but neither that law nor any subsequent law changed the name of the holiday from Washington’s Birthday to President’s Day.
Although the third Monday in February has become popularly known as President’s Day, the NYSE’s designation of Washington’s Birthday as an Exchange holiday (Rule 51) follows the form of the federal holiday outlined above (section 6103(a) of title 5 of the United States Code). source

Observed days off for the NYSE 2007 Holiday Schedule.