After another challenging afternoon the bulls showed up in the final hour and managed to push the major averages near their highs into the close. Breadth was over 2 1 positive in the NYSE and the NASDAQ was 1914 vs 1055. Small caps lead on the day, tacking on over 1%, while the drugs and health care sectors also advanced solidly higher.

Overall it was a positive day but the action remained very choppy throughout and only reversed the damage that was done yesterday. We remain bullish but until clear leadership is determined it will be very tough to get any sort of sustained traction. A strong close is a start but until the Qs and technology regain leadership well remain quick and nimble keeping our time frame very short.

Sometimes prudent money management isn't always rewarding as after the bell Sharkfolio holding XRTX reported better than expected EPS and Revenue with monster guidance. The stock is trading up over 18% in after hours. Despite the partial sale this afternoon, were pleased to have kept 200 shares on the books and well be looking for a remount when the euphoria calms.

After a solid close today, the action may heat up tomorrow however; this market has also set a new precedence of reversing rather quickly. Rest up and well see you tomorrow.

Have a good evening.

RevShark