Jerry Samet
05-20-2013, 07:26 PM
The market had an up and down day with the major averages losing some early gains and finishing with small declines on the day. They closed in the lower half of their intraday ranges and volume was down across the board. The lower volume and small losses means there was no distribution today. Leading stocks pulled back also with the leaders index declining .46% on higher and slightly above average volume. Both quality stocks and the major averages are consolidating recent gains in a pretty constructive manor. It looks like the rally is on solid ground. Sometimes the best thing you can do is sit with positions that are acting well. That looks like a good strategy right now. Jerry