Once again the major market averages were a bit misleading as both the Dow and S&P closed at new multi year highs while some of the momentum favorites or IBD 100 type stocks simply couldn't find any love. Breadth finished positive however leadership transferred from select tech, back into Oil and Gold. The Russell 2000 managed to close up .85% and look poised to challenge yearly highs.

There are often times in the market, and this being one of them, when despite all your efforts you simply are not able to find any traction and gain significant ground. Frustration starts to set in and you begin questioning your trading strategy. This only compounds itself when you glance at the TV and notice the broad market putting in new highs. It is during times like these that we must remain focused and keep in mind that we are not alone. Changing our strategy out of frustration will do nothing more than create a bigger problem when the stocks that we favor start working once again.

We shuffled the portfolios a bit today, trimming some, adding others, doing nothing more than attempting to keep stocks fresh making sure that only the best are being held in anticipation of another move.

The market continues to be a challenge and is frustrating most. However, we continue to feel that this drudgery is setting us up for a strong move in the near future. Were remaining patient, focused and poised for the action. One never knows when Mr. Market and Dr. Mo will show up and want to party.

Have a good evening.

RevShark