Jerry Samet
07-05-2011, 11:22 PM
The major averages had a mixed day today, with the Nasd up slightly and the New York averages down. Volume was also mixed, about flat on the Nasd and up on the NYSE. The NYSE Composite fell .25% so it was a distribution day on that index. Leaders did much better as the leaders index was up over 3% on higher but still below average volume. Several of the leaders index components were up sharply, including NFLX, TZOO and OPEN. The market is overbought and could pull back here, but today's action was supportive of the recent rally. Jerry