ANOTHER SHARK

Markets continue higher and near their best levels of the day although the financials seem to have flipped to green on the heels of some speculation in BSC.

Strong sectors include brokers, biotech, airlines, utils, defense and consumers while metals, oil service and homies lag.

NYSE internals +1050

NAZ internals +800

OEX internals 80/20

NDX internals 70/30

IBD 100 60/40

Todays winners:

JRJC ACM VIVO FLIR CNH ARGN GPOR SYNA CMED CRNT GM F AVP CI AA MS AMGN XRX NSC XMSR WFMI SIRI MRVL SNDK IACI ISRG;

LOSERS:

VRSN PTEN GRMN MNST XLNX JAVA JNPR ALTR EXM MHJ DWSN BIDU SLB NILE SI GLNG BHP GRMN LAYN;

The RUT/MID's continue to lead the way (today) and the other Shark has a few interesting thoughts about that in a recent realmoney.com article:

"An interesting development today is that small-caps are outperforming after lagging

consistently for a while. The Nasdaq 100, which has been the leader lately, is still doing well, but a number of its key components are lagging.

Is this a broadening out of the speculation that I have been talking about? It sure looks like it at the moment. I suspect that there are plenty of folks who, like me, are underinvested and are inclined to try to play the momentum game to produce some performance while they can.
These folks aren't necessarily bulls. They are opportunists who are simply trying to capitalize on the action. That is the way I feel right now. The strength seems very illogical to me, but I might as well try to take advantage of it while it lasts. I'll worry about the rationality of the market only after I can no longer find good trades on the long side.

One thing you learn about the market is that you are better off not arguing with it. You might not think it's doing the right thing, but you aren't going to win that debate, no matter how good your logic may be. "

The point, forget what you may think about the whys and wherefore's and just try to make money. Today may not be a great day to buy the NDX/tech but buying the next pullback probably makes some dough before too long. And oils may interesting today as we have pullbacks in:

OIH SLB NBR RIG TSO DO etc;

I highly doubt the bull market in oil is over just because crude is dipping under $80. I suspect OIH in the mid 180's will be a nice play to dip in and a target near the $200 level also looks pretty sound.