Jerry Samet
02-25-2015, 07:29 PM
The market had another fairly quiet session today. The major averages all made new intraday highs, but closed little changed on the day. The COMPQ was off by .02% while the SPY declined .08%. Volume was again mixed, higher on the Nasd and lower on the New York. Some late weakness saw the major averages close near their intraday lows. This is in contrast to recent trading that saw the major averages closing at intraday highs. Leading stocks treaded water also today with the leaders index closing down by .15%. The index closed in about the middle of it’s intraday range on slightly higher and a bit above average volume. The decline however was to little to produce distribution on this index. The market continues to act in a fairly constructive manor. We are not setting any fires but both the major averages and quality growth stocks continue to work their way higher. It is certainly right to hold positions, but not to much in the way of gains should be expected. If you have 10 to 15 percent profits in a position it is probably a good idea to grab them. Jerry