Thursday, January 19, 2006

Solid Rally

The market finished the day with a solid rally, on strong volume. The rally was all the more surprising considering the lackluster economic reports (Philly Fed), rise in yields (4.38%), sharp rise in oil (~$67), as well as the new tape with threats from Bin Laden.

Despite these concerns, the market scaled the 'wall of worry' most of the day. Leading sectors were semis, energy, and brokerage stocks.

Retailers continue to struggle, for the most part, while plenty of tech and healthcare continue to provide leadership. New highs bounced back to +224 on the NYSE and +210 on the Nasdaq.

MOT and FFIV report after the close.

Have a great night--


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