Jerry Samet
12-26-2013, 11:41 PM
The market opened higher today and traded in a pretty tight range. The major averages were strong all day and closed near their intraday highs. Volume was higher, against an easy comparison with Tuesday’s half session, but was still light and well below average. Leading stocks had another solid session with the leaders index rising .98% on higher but still well below average volume. There was a new price high on the index but not a new relative strength high. Many individual quality stocks continued their gains, like DDD, LVS, and TWTR. The market continues to drift higher on low volume that will likely continue until many major players return from vacation on January 6th. Both the major averages and leading stocks continue to act well which puts the rally on good ground at least for now. We are in a pretty quiet holiday period and there is not a lot new to say (sorry Fred) right now. The rally is likely to continue for now and the long side is the place to be. Jerry