Leaders Index 4-30

The market rally continued today as the major averages had a solid up day. The gains ranged between .25% on the SPY and .66% on the COMPQ. They all closed right at their intraday highs and volume finally kicked in. It was substantially higher across the board and was well above average. The strong close and higher volume were very positive for the rally. Leading stocks lagged again as the leaders index was down .28% on much higher and above average volume. Much of the volume increase was attributable to MTH and SLCA. The major averages are outperforming leading stocks, which is not what you want to see, but the market is rallying and a long position is where you should be but staying very close to the exits is prudent. Jerry