There, once again, is not much too add to this market after today's session. Biotech, small cap and large cap oil led todays market action with some nice gains. The techs and retails were weak today. Markets remain the same with all trends being up since 2002.
Lots of people keep calling for the markets demise but it is hard to stop momentum no matter how hard you try to talk it down. I am a bit nervous with the amount of small stocks moving higher but I have to remember same thing happened in 2003. Also more stocks trade on the exchanges today than they did 5,10, or 100 years ago.
All trends remain up for all the indexes and until something changes I have to remain bullish. When momentum stalls and we start getting some distribution days on the index then I might listen to the bears case a little harder. But, for now, oil at 62, interest rates, China, terrorism, or whatever it is the bears are worried about does not matter to this market. Therefore, I will continue to ride the trend till the trend reverses and let other people try to predict where we will be a week from now.
New Swing Longs: PWEI TLF BNT SCO ELOS ATLS COGT MNST MCEL VITA LNG ELT PPX
Swing Longs Outperforming Market: XWG BCON GEOI WEL ARD TMY PETS BOOM TALX CTGI SGDE CPTV CUTR CFK ANX NICE IDIX OPMR WVCM TEC VLFG
New Swing Shorts: HRAY VIAC
ALOHA!
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