Jerry Samet
11-04-2013, 11:24 PM
The market had a moderate up day today. The major averages opened strong then lost all the gains before a late rally allowed them to close near the highs of the session. The SPY rose .36% and the COMPQ was up .37%. Volume was lower across the board, so there was little buying pressure from large investors. Leading stocks had a good day with many, such as YY, SCTY, and TSLA having strong moves. There were even a couple of fresh breakouts like SSNC. Volume however on the leaders index was lower and about average on the day. The index had a gain of 3.98% and both the price and the RS broke the pattern of lower highs. While quality stocks had a good move on a price basis today will have to see if this is a flash in the pan or an up move that has legs. After recent weakness they have more to go to prove themselves. Jerry