Market Wrap

Dow Industrials 12705.41 -11.05 -0.09% S&P 500 1325.54 +1.45 +0.11% Nasdaq Comp. 2859.68 +11.41 +0.40% Russell 2000 812.89 +3.23 +0.40%

NYSE Comp. 7945.43 +13.98 +0.18% Nasdaq 100 2495.83 +7.65 +0.31% Dow Transports 5305.66 -37.44 -0.70% Dow Utilities 449.84 -1.07 -0.24%

View Major Index charts

Internals were positive, volume was lighter. Advances/declines were 11 to 8 on the NYSE and 3 to 2 on the Nasdaq, with up/down volume 3 to 2 on the NYSE and 2 to 1 on the Nasdaq. New highs/lows were 210/8 on the NYSE and 165/16 on the Nasdaq.

Leaders — Airlines (+2.08%), Oil Services (+1.52%), Biotechs (+1.49%), Metals (+1.36%), Homebuilders (+1.14%), Gold/Silver (+0.98%), Network (+0.98%), Internet (+0.85%)
Laggards — HMOs (-1.12%), Defense (-0.70%), Chemicals (-0.55%), Drugs (-0.34%), Utilities (-0.29%), Transport (-0.29%), Comp. Tech (-0.00%), Comp. Hardware (+0.03%)

An extensive visual representation of the day’s winners and losers can be found at Finviz.com.

Treasury Yields — 6-Month : 0.09 %,  2-Year : 0.22 %,  5-Year : 0.71 %,  10-Year : 1.82 %,  30-Year : 3.01 %

Energy Prices — Crude oil: $96.67/barrel,  Gasoline: $2.88/gallon,  Natural Gas: $2.54/mmBTU

US Dollar Index — 78.980

Precious Metals — Gold: $1759.50/ounce,  Silver: $34.36/ounce,  Platinum: $1626.00/ounce

BMB Note:  
As you can probably tell by the lack of other posts today, I was busy doing things other than boring myself by watching the market today, but at least this time I am here for the wrap.

As for our ‘approach’ to the market right now, I think Dave Landry’s newsletter explained it pretty well this morning:

So, what do we do? As long as the market is going higher, nothing changes: Keep nibbling on the long side but as usual, wait for entries and honor your stops just in case. Also, on follow through begin looking to take partial profits and trail stops.