The month of March has proven to be tough going for market participants. After some positive action in the early going today, particularly from the semiconductors, Mr. Market suddenly changed his tune. We rolled over fast and hard and closed near the lows on the day.

Breadth was over 2 to 1 decliners vs. advancers and all major sectors finished lower. To add insult to injury volume increased sharply.

Despite the carnage, we were not inclined to dump major positions into the weakness. As the Qs sold off, it looked as if program trading set in which served as the catalyst for the selling to pick up. If there is one thing this market has proven recently, is as quickly as it goes one way, it will go another and until a definite trend sets in, were going to remain flexible.

Despite our bullish biased we clearly recall our experience 2 weeks ago and because of that we are watching positions very closely. Should key technical levels break and volume set in, we will have no problem selling first and asking later.

The week sure has been exhausting already, and its only Tuesday. Rest up, well see you tomorrow.

Have a good evening.

RevShark