Market simply reverted back to its 2012 ‘in the game’ ways. If the investor doesn’t hold overnight, the investor misses on most of the day’s rally as it’s usually all in the morning gap. If one doesn’t buy the shallow dips, one misses more opportunities to be ‘in the game’. Although momentum always stalls after gaps, the market feels like SP 1370’s has a magnet attached to it pulling stocks back up from very shallow dips.
As the market retraced all it’s losses from Friday, you have ask what all the noise was about on Friday. The austerity package passed this weekend as speculated. All the Euro group wanted on Friday was for this occur to kick off negotiations. All in, the noise will likely pick up with ‘negotiations’ as soon as Wednesday (finance ministers meet) and last till late (redemption date) March!.
As far as the underlying sectors, all the right groups led on the upside and single stock action from earnings related names this Q continues to be favorable with many new names hitting fresh highs. Names noted include:
...TDG, HAR, TRMB, THO… (IACI AZPN FTNT FIRE LQDT MKSI N PMTC URI LULU etc.), while other names just confirmed they should remain on the list for yet another year, if this Q’s # is any indication, ie: (WYNN LVS PII FFIV FOSL UA CRM MA DDD OTEX etc.)