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Flat top - The Dow gained 56-points yesterday but the broader market was a little more flat than that. It is still digesting last week's big rally and taking a break here seems quite reasonable...

Current Daily Market Commentary

Market Commentary for 7/07/11

Different day, same results.

Stocks traded around the neutral line again today. At the close the S&P 500 eked out a 0.1% gain, while the DOW and Nasdaq fared a bit better with 0.45% and 0.29% gains respectively.

There was only one economic data point of interest and that was the June ISM Non-Manufacturing Survey, which came in at 53.3; under the 54.0 economists were looking for.

Perhaps traders are awaiting ...

A day of rest - Stocks took a much deserved break yesterday after having the best week in a couple of years. The losses were modest and the Nasdaq and small caps were actually up again. The Dow lost 13-points...

Current Daily Market Commentary

Market Commentary for 7/06/11

Going over the data after Friday's close I chose not to write a blog over the weekend because there wasn't anything to say I haven't already said. In my Account Talk I stated "If I believe I can escape with a gain or flat, then I'm likely to make an exit tomorrow and let everyone else chase the rest of this rally."While my exit yielded a 2.70% gain for the month (awesome), I did lose out on an additional gain of 2.63% (not so awesome.) Sometimes it's a good idea to chase rallies and other times ...

There was a big headline in the news today, but it had nothing to do with the markets. As a result the action was choppy and listless as traders chose to take a break after last week's huge rally.

Here's the charts:



A modest dip in NAMO and NYMO today, but both remain on buys.



NAHL and NYHL also remain on buys.
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