Yesterday I commented that we really needed another solid day of advance before we could feel like we were headed up. We got that day overall but some quarters were not along for the ride. I remain unconvinced, and continue to look for a consolidation in the overall market. That being said, this could have been a disastrous week, with the Iraq elections, a Fed Meeting, and the State of the Union - instead we get tentative positive movement. I think we'll see more of the same today.
Our picks from yesterday did well, with 4 advances, 3 declines, and one sitting tight. The one with no movement was PTA, one of my purchases. Alas, I did not review the average daily volume on PTA, which is something I usually evaluate. Here was have less than 200,000 shares traded daily - something that would have made me take a pass had a noticed it before.
Good trading!
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