Jerry Samet
04-09-2015, 11:30 PM
The action of the market was fairly uninspiring today. The major averages opened higher then sold off into negative territory before late strength saw them close near their intraday highs. The New York averages lagged a bit while greater real strength was in the Nasd. The SPX gained .45% while the COMPQ was higher by .48%. The small and mid cap averages were down slightly as they hesitate near their all time highs. Volume was mixed, higher on the Nasd and lower on the New York. Leading stocks were up about in line with the major averages with the leaders index gaining .48% on the session. The index closed near it’s intraday high, but volume was well below yesterday’s level and below average. The market continues it’s trendless late cycle action. While there were a few fresh breakouts today few stocks are producing really worthwhile gains. I know it may sound like I am repeating myself but the picture remains the same. Take any gains early, cut stocks that are not working quickly and be happy with modest gains. Jerry