Breadth was solid all day and the market leadership was in semi conductors, which is definitely an encouraging sign. Furthermore we saw an overall broad rally in the small cap sector, which is what we would like to see lead a market higher. What is particularly interesting about today is that the feeling in the air seemed to be one of surprise as the market moved higher after yesterday’s mundane action. It seems as if many were caught off guard by this move and we suspect the urge to jump in for fear of missing a year end rally may give this market legs for some time.

We have been ridding the winners we have been adding during the recent weakness and when we do take profits we try to find new names. We will ride the strength until we start to see signs of caution but I suspect the Sharks are going to be very busy until Thanksgiving.

Now is the time to break out those buy lists and look for chances to put some money to work. Big Mo is in town and he doesn't leave until he is good and ready.

Have a good evening.

RevShark