The market closed well today and has done a very good job in repairing last weeks stealth carnage. The S&P and Dow followed through to new highs and the Nasdaq is flirting with its recent highs. After adding close to 1% the Russell 2000 is also at resistance however with slowing volume looks as if it needs a slight rest before taking out highs. Many momentum stocks have garnered attention once again and those with solid fundamentals, such as the Sharkfolio stocks, have bounced back extremely well. Breadth also finished strong on the day.

The last 8 trading days have been very exhausting and we are already looking forward to the upcoming weekend. Despite the fact that the recent volatility has been taking its toll on our stamina, we are loading up on the double meat sandwiches from CJ's Dell so that we have the strength and fortitude to stay on our toes over the next two days and not let anything slip too much.

Make sure you take extra care to protect recent gains at this juncture as the market has been very choppy recently and the chances of a quick reversal remain high. On one hand we have a lot of negative sentiment out there that this could create a wall of worry and on the other with just a touch of bad news the high level of nervousness could spark another run on the exits.

Continue to go through your portfolio taking some profits when you have good gains and don't get caught wishing and hoping a laggard will come back. If Big Mo sticks around there will be plenty of opportunities right around the corner.

Have a good evening.

RevShark