Another Solid Gain for Stocks!
The market shot out of the gate this morning due to strong October sales data from retailers, but moved lower in the afternoon from rise in oil future. The volume remain very heavy and most of it came in during the morning session which is a good sign. But the advancer outpace the decliner only by 16 to 15 on NYSE and 16 to 13 on Nasdaq.
Transportation service has the largest gain in this 5 day rally with 14% gain. Teen retailer sales data blow away any estimate. I guess its their parents money that they are spending.
Tomorrow the nonfarm payrolls data will have some impact on the stocks. The market is expecting the economy to add about 102,000 to 103,000 jobs.
I like how the market so far. Let’s see if we can close out this week with another positive day tomorrow.
It's not when you buy. It's when you sell!
