Another Accumulation day for the indexes as the SP600 was up 1.8%, the Nasdaq was up 1.5%, and the SP500 was up .9%. Volume increased across the board but was not that much higher than yesterday. However, since volume was up it was an accumulation day. Another sign that there was decent accumulation today was the broad rally in all sectors which gave the market great internal breadth readings on the day and helped the indexes close at their HOD (highs of teh day) - All three indexes.
4 1/2 year high on the Nasdaq and ALL TIME highs on the Dow Transports are pretty amazing considering this economy is supposed to not be in good shape. Well, all time highs in another index along with the SP600 already making all time highs tells me that 10 quarters of 3% GDP growth is pretty good and the economy isnt as scary as the bears like to paint it. Silly bears, your opinions are worthless, unless the market is moving in the direction of your opinions. Since 2002, you have been wrong and at 4 1/2 year highs on the Nasdaq you are still wrong. Facts are for winners (fundamental and technical analysis), opinions are for fools (perma-bears that think Armaggadon is starting tomorrow).
Over three-quarters of my stocks were up on the day and almost half were up at least 1%. It doesnt get much better than this. What makes me more excited about days like this is the fact the indexes were only up .5 to 1.5%. If we would have been up more, I wonder what my account would have looked like. :)
More Commentary Before Opening Bell.
New Swing Longs: CWTR FFIV TFSM DCGN BFR NXG CDE AUY GRS BAM STEL PEIX MRB
Longs Outperforming Market: ESLR-69% NRPH-65% EMKR-60% SUPX-60% ACR-52% SRLS-45% SMTS-39% NUHC-31% OXPS-30% EAGL-30% LTON-28% LMIA-27% CPTS-27% MNG-26% ANST TRAD CMED CKCM NMR GOL NWRE RADN RTK RNOW FDRY SILCF GAIA UIC CVO BNT TEVA CIB MIDD FAST EDS PAYX CTHR SXC HOM KYPH ISIL NSC SRCL VAS ICTG KEX MNST FWLT SVA ANAD SBAC NOVL SSFT Q UBS ING
New Swing Shorts: NONE
Shorts Outperforming Market: NONE
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