Despite a strong finish in the major averages, there wasn't much other than tumbleweed to be found in the streets of SmallCapVille today as skeptical traders looked to have taken the day off after a very challenging week. We wouldn't classify this action as anything other than a dead cat bounce and didn't find many opportunities warranting our dollars.

The most encouraging items to discuss is that despite the carnage in MoLand, the major averages, excluding the GOOG plagued Nasdaq, have held up relatively well. The S&P and Russell 2000 look to be finding support on the 50 day moving average and the Dow is on the verge of challenging yearly highs. We still feel strongly that a rotation is taking place but still are unsure what group will emerge as a leader. Until this has been made clear, the action is sure to remain choppy and unpredictable.

We are starting to see many stocks that have been sold into the abyss while no material changes have taken place to affect their fundamentals. While they look tempting were being very patient and would prefer to see them base a bit before we wade back in.

It has been an exhausting week and were looking forward to relaxing weekend.

We hope you've enjoyed the increased communication and we look forward to seeing you early Monday morning.

Enjoy the weekend.

RevShark