Leaders Index 2-11

The market was slightly lower all day and finished the session with small losses. The major averages closed down between .06% on the COMPQ and .18% on the NYA. Volume was lower across the board and all the major averages closed near their highs of the day. This is positive action. Leading stocks mirrored the overall market with the leaders index down .07% on flat volume. Volume was slightly lower than yesterday. The rally is still intact although showing signs of age. The long side is still the place to be, although dancing near the exit is probably wise. Jerry