Another Day Proving The Bears Wrong--AGAIN; More New Five Year and All Time Highs For The Major Market Indexes.

Apple's big news and the good feeling of the postive Fed head comments yesterday was the reason the markets rallied today, according to the media. The major indexes rallied anywhere from .3% to .7%, with the SP 400 leading the way.

Volume was higher on NYSE and lower on the Nasdaq as breadth was positive on the NYSE by a 10-7 margin and a 8-7 margin on the Nasdaq.

The big news on the day was the announcement of AAPL having software ready to work on MACs that use Windows. I am not sure this is the reason why stocks climbed, today. However, this is a very cool development and shows that we are in a very interesting time of amazing software development in the computer industry.

Given that news with the action of the markets today, we can only come away with a good feeling. However, that is what we need to watch out for. These are the kind of news events that when correlated with the market starts to turn bears into bulls. That is not bad at first as their short covering is what causes those huge price spikes. Sadly, those same huge price spikes also signals the end of the run. Charts are not near that point yet but still that is something to keep in mind as we watch stocks like IIIN make moves like we have seen.

There are, still, plenty of unbelievers of the rally that we have been having so there is still more upside to come I am sure. Plus, I am not having any HUGE blowups and am not having a ton of stocks breaking down on the way up. The cheap stocks are here and there but those dont even make up .05% of my portfolio at some times. The IBD stocks, however, continue to kill the market. Also when you have ten new longs that tells you that maybe the market is still ready to explode and really cause those shorts some pain.

I wouldn't mind some sideways action or some low volume drifting here. Some charts are showing signs of being extended and needing a rest. But simply put the majority are just stair stepping up very calmly.

The new longs that you see below are going to be small buys in most of the stocks that are not breaking out from a sound base. Stocks like AAPL OXPS SNDK NEXT BWEB will be very tiny buys. I don't recommend trading like I do anyways. Holding this many stocks in a bull market is for professionals only. I do not want to hold this many! I am just simply trading my plan because I know my odds and know my high profit/loss ratio works. But if I was a newbie I would only buy FTK and MFRI if I followed my trading plan. Hope that teaches you a little bit on how I eye up which ones look better or have a better shot than the others.

Have a great day tomorrow and good luck. Please, read the last ten post to know where we are at and how we got here.

New Swing Longs: AAPL SNDK OXPS FTK RSCR DCEL CYMI MFRI NEXT BWEB -- For more on the longs go to Investors Paradise and scroll down to Investing-Josh Hayes and click on 'longs.'

New Swing Shorts: NONE

Longs Outperforming Market(number is % gain since purchase): VIMC-100 SLW-132 ERS-243 PETS-128 NVDA-104 BBD-128 CBG-116 WIRE-142 MFLX-212 ASF-207 RATE-151 ATHR-134 MNG-169 AUY-138 TWTC-150 TRAD-44 STRL MDCC-55 SLAB-26 SCVL BAM-30 WNR-25 XRTX-68 NTAP IVAC-41 CLZR-64 BGC-73 DECK MTU EFII UIC-66 HOM FWLT-70 PKE RMBS ARS-59 TMI-32 PEC EAGL-66 NGPS KEYS-29 NMR-43 ROK BWLD CTXS-44 RUSHA SCHK-42 HEIA-34 FFIV CVN MEK-41 QCC SPWR-33 MMK-47 AAU PEIX-37 GNBT-78 SATC-30 NVAX-47 QUIK TOMO-40 TGB-52 IIP-63 COMS WTSLA CNXT-69 TXCC CDE-35 BEAS-28 LNUX-25 TXCO-64 NTO-61 IMMR VGZ-71 RBY GMT DB-25 CRUS MERX-51 WST FVE EVST-50 LMLP-35 PRKR ICTG-86 TTES CTEC

Shorts Outperforming Market: NONE

Stocks On Radar Screen: RAE DVW FELE AHC