Boring but Healthy Action
It has been a very quiet day but the market held up well, which is healthy after the euphoria over the new highs. The dip-buyers bought the midday lows and breadth improved nicely. We didn't have any wild momentum but a slew of new highs were reached and plenty of stocks continued to act well.
The bears might complain that the action is too complacent and unworried, but I suspect the bigger worry is being underinvested and missing out. The way this market has acted recently resulted in plenty of poor positioning and there is an appetite to put cash to work without buying anything too extended. Unfortunately, finding things that aren't extended is not easy as new highs continue to pour in....103 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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