Boring Most Traders To Death, Stocks Pullback, Ever So Slightly, On Mixed Volume.

Stocks ended their two-day win streak, Thursday, as a spate of economic numbers did nothing to help prop up the indexes. The existing home numbers came in stronger, the Chicago purchasing index came in stronger, and the Conference Board's consumer confidence index came in with a 109 reading. All of this might have helped keep stocks from losing ground but the bottom line is that a pullback on lower volume is not that big of a deal.

At the close, the SP 600 led to the downside with a .3% loss, the Nasdaq pulled back .2%, the SP 500 lost .15%, and the DJIA held up the best losing only .1%. The IBD 100 and leading stocks led the way giving up less than .01%.

Volume was a tad bit higher on the Nasdaq. However, the index came back from its lows of the day so there is no distribution there. Volume was lower on the NYSE, just what you want to see on a pullback. Volume is still well below average on this Holiday week on Wall Street.

Breadth was negative on the NYSE by a 9-to-7 margin and negative on the Nasdaq by a 3-to-2 margin.

Today was just basically a day of working off the short term post-Christmas rally condition with some back and filling. There is really nothing to gain and/or figure out on a day where stocks go nowhere on no volume. It is just plain silly and really is just filler.

The real news to me is the Steve Jobs options fiasco. Reports noted a charge that the company allegedly gave CEO Steve Jobs 7.5 million stock options in 2001 without board approval.This is just another incident of corporate greed that makes the stock market look like the unfriendly place to put money. I know better and you know better but I have already talked to two people who started the conversation with "how can anyone trust the stock market when..." This is such an irresponsible move by a man who has had his stock price score some incredible gains. AAPL is and was a CANSLIM quality stock. However, Steve Jobs appears to be less than a CANSLIM quality executive.

AAPL is up some 800% since he received those options so I am sure he is doing quite well with all that he has made on this transaction. No matter, if you were long AAPL, you really don't care that he did this because you enjoyed part of the huge run-up. AAPL is up over 500% since the correct breakout from its first proper base as a CANSLIM quality stock.

Trading should be much slower tomorrow as most traders will start the weekend early and possibly even get a longer weekend if the NYSE respects President George W. Bush's wishes in the nation serving a day in national mourning over the passing of the 38th U.S. President Gerald Ford. However, as Rev noted the NYSE has a history of not giving too many free vacations. Former President Ronald Reagan was definitely deserving of a closing and I am glad they did that.

Aloha and I will see you at Investors Paradise.

New Swing Longs: TD CRNT

Adding To Longs: CHINA IGLD SNCR HINT NMGC

Longs Up On The Day (low vol non-IBD excluded): CHINA-81 IGLD-73 HRT-33 PTT-113 IIVI-35 AOI-36 ICE-45 AOB-111 IIG-27 APLX-29 STEC-89 CPA-50 TTEC-64 JST-86 FTEK-44 BMA-31 CLRT-34 BAM-53 ININ CMT VEH IMA AMOT GLDN IMKTA ASCA LRCX CACB COH SKX BTJ OTEX BOT PCC LINTA LFL NYX JCG SNCR HINT IPHS ONT NMGC ISSC BITI HAUP SEAC SNDA OEH EPHC BPHX PRCP

Stocks On Radar Screen: HMIN GSOL ACN ENCO FSLR MVE ASIA GNVC ANO CTCH SVM SI TRP SPI CDZI WHIT CPD AIXG

Partial Sells: ACGL CBF APRO ZNH QD TGEN ALTH ISLN INMD

Complete Sells: AEZ ALXN FORR