The markets had a great move today but the volume was very low. That tells me that the big boys had very little to do with this move up. I would have like to see a move like today come on a nice pickup in trade. But that did not happen so we have to see if the big boys want to jump on this short term uptrend in the indexes. If they do that will be great, but if we get some decent down days on a pickup in volume I will get more cautious.
So instead I still remain bullish like I have been since 5/4/05 and continue to see strength in the Nasdaq. This weekend I gave a list of stocks that look like they are creating bases in the sector. Please, go back and read my weekend thoughts and check out my long list the past week. You can not argue with facts and facts say techs are going higher.
There is still a lot of bearishness out there with the "dumb" money (and sometimes it is beyond dumb) but after reading Helene Meisler's recent publication on www.realmoney.com I know that the Investment professional community is still bullish overall. So we will see how this rally unfolds.
Swing-long trades: COI TUG ABCO SPSS LIFC UNWR PACT
Swing-long trades I have mentioned before: MUSE NNI EEFT
Swing-long trades that need a pull back on low volume: VPHM
Aloha.
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