The market pulled back on Monday in rather orderly fashion, more or less, and seeing that volume was low it would be tough to look at the session in a negative light. I’ve yet to see any evidence that would suggest this rally is anything but healthy, even in the face of weakness in financials. Remember, we’re not economists, we’re traders/investors; our area of expertise is supply and demand. The world might be ending, but if they’re bidding stocks up, we buy. Execution is made that much easier by ignoring entirely both the political and financial media, including those websites and blogs that, frankly, are more guilty pleasure than anything. Trust your own judgment.
“First tier” leadership is extended for the most part, though there are those that could be offering entries in the form of add-on bases like the ever famous “three-weeks-tight,” for example: RVBD, ADTN, PAY, ACTG, CTSH, ONE come to mind. “Second tier” leaders are now making themselves known and I’d be at a loss to explain how this could possibly be a negative.
The screens I run night in and night out continue to snag more and more stocks and both my watchlists continue to materially outperform the market; most importantly, my portfolio is up 146% YTD. The trend is up and to fight it is futile, regardless of the problems our country may be facing....
Disclosure: Long: BIDU, CRM, NFLX, MELI, PCLN, VMW, DGP