Jerry Samet
02-18-2014, 10:59 PM
The market has been acting well in the last couple of days. Today’s action was mixed. The Nasd averages and the small caps led the way higher. The COMPQ was higher by .68% and closed at the highs of the day. The real leader was the RUT, which gained 1.07% and is closing in on it’s recent highs. The New York averages lagged with the SPY up only .12%. Volume was higher across the board, just a bit on the Nasd but quite a bit higher on the New York. Leading stocks were the real stars of the session with the leaders index rising 1.50% on higher and about average volume. This produced new highs on both a price and a relative strength basis. Top quality stocks like QIHU, JAZZ, and ACT had large gains. The rally appears to be acting well with quality stocks leading the way higher and a low distribution count. The long side is the place to be until this changes. Jerry