All things considered it was a decent day but we didn't get the strong close we were hoping for. We will have to wait and see if the troops can muster up the strength to hit it hard again tomorrow. Sector leadership was mixed but on the right track with Gold leading and Semis, Networkers and Retailers showing relative strength as well. Oil was down sharply early and fought back as the day progressed. We'd prefer to see some 'hot' money rotate out of oil and into tech but lots of folks are feeling emotionally attached to their energy holdings. Breadth was positive today but volume was a bit light.

While we haven't yet had a woosh of higher stock prices, it is nice to see our thesis developing and money flowing into the sectors we favor.

Despite our underlying bullish feeling, Mr. Market always has a way of keeping us humble. It is very important to remain flexible and not becoming too emotionally involved with your positions or your market thesis. Should the overall conditions start to change a flexible mindset will allow you to cut quickly protecting hard earned gains.


For the time being the action remains favorable and were continuing to play what is in front of us and ignoring the constant negative macro arguments that the pundits love so much.

Rest up, tomorrow's another day.

Have a good evening.

RevShark