Another day of gains as price follows up on yesterday’s big gains, but trade slows from Wednesday’s elevated level.  A series of better than expected economic reports helped boost stocks in early trade.  Volume began the day lower and finished in the same fashion, institutions on the whole were simply staying on the sidelines today.  Leading stocks acting very well again today with many leaders adding onto their gains creating another positive image for this market.  All in all not a bad day with the NASDAQ leading the way tacking on gains, but it would have been an added bonus if volume would have shown up.

In a confirmed uptrend the necessary ingredient is leading stocks.  Leading stocks are stocks who have gone on to form and run away from solid bases.  Not too mention they display superior growth in key fundamental areas.  We are certainly seeing a lot of new leadership and even some older leaders from 2009 uptrend are building solid bases and are breaking out NOW!  This market hasn’t coughed up the number of quality leadership in quite some time and is certainly a positive signal for further upside.

Tomorrow’s job figure will be heavily scrutinized by the financial media, but again it is how the market reacts is the most important.  A distribution day wouldn’t necessarily kill this rally and while it would be a red flag, but with the leadership we have it wouldn’t squash it.  At this point speculating if we’ll get a distribution day or an accumulation day is simply silly.  What we need to focus on is what we have in front of us and what we have are signs of higher prices and excellent setups.

Remember to always cut your losses short as you do not want losers to turn into account killers.  Cutting your losses is insurance for your portfolio.  Small losses can be made up with a just one or two winners.  Big losses on the other hand would take many more winners to make up for a big mistake.  The moral of the story is to run away from losses and run towards gains!

Thank goodness Hurricane EARL is weakening and is showing up later in the day Friday so we do not have to worry about blaming a hurricane for the market action.  Stay safe if you are in the path of the hurricane.

TOP CURRENT HOLDINGS WITH TOTAL RETURNS UP TODAY: LCUT 131% JKS 113% RDCM 46% PWER 41% NR 21% SPRD 18% RES 15% MIPS 14% AMRN 11%