The market took a very shallow rest today. It wasn’t much of a pause but it certainly was welcomed. The DJIA and SP500 were just fractionally red and the Nasdaq and Russell 2000 managed a final hour push that put them in the green. Small caps, oils, networkers and retailers were the leaders.  Strength in oil has not seemed to be market negative and that was the case again today. 

We continued practicing some prudent money management today raising some cash here and deploying some capital there. We made some buys of stocks that looked ready to go and exited a few that looked tired.  That keeps our capital working hard.

We would really like to see the market rest for a few days as many leadership stocks would benefit from a consolidation or base at recent highs. This would be a great opportunity to redeploy capital before Mr. Market takes us another leg higher but just because we hope for such a scenario, doesn’t mean that it will occur.

We expected some profit taking and for now are being very diligent in digging deep into new names. Other than that, we are enjoying our early year gains and making sure not to give them back through carelessness or a lack of patience.

Have a good evening.