Growth Stocks Beginning To Perform Better

Today is turning into a solid session, at least so far. Growth stocks are beginning to outperform, which is usually a good sign for a continuation rally. We don't want things to get out of hand on the upside. It would be better for the market to build on its gains slowly, and convert the skeptics slowly, not in one day.

I have commented on how GOOG is doing much better. The stock is now comfortably above its 50-day.

AKAM is breaking out, and RACK is putting in a bullish outside reversal. GRMN is making new highs, and FFIV looks like it is starting a new uptrend. ISRG is close to breaking its recent downtrend as well.

Besides energy stocks, up big due to the mergers, biotechs are up +1.1%, while semis are lagging. I would like to see that group turn around and show some strength. As for asset classes, mid-caps (MID) are leading the way today, +1.2%.

long AKAM, GOOG, RACK