All and all it was a good day for the markets. The Dow and S&P put in new yearly highs while the NASDAQ broke the short term down trend and looks poised to challenge highs.

Despite the euphoria noted by media pundits, Shark traders weren't rewarded as much as others today as the higher momentum type stocks didn't seem to participate in today's action. As we wrote earlier, it can be a bit frustrating to feel as if everyone around is minting money when your stocks are limping along. While we hit a few good ones today, there were a few laggards that kept us from really tacking on the gains.

While we still remain positive, we aren't yet sure if today's action is signaling a short term top or if the momentum will soon flow into the stocks we favor as participants start to dig a bit deeper for opportunities. We aren't going to come into Monday short, but wont hesitate raising some cash if troops come into the week firing away, as typically a Monday morning gap is tough to trust.

Rest up and have a great weekend. Well see you bright and early Monday morning.

RevShark