Today the SP500 and the Russell 2000 made a new all time high, and the Nasdaq 100 made another multi-year high. Although the DJIA was absent from this new high party, but the signs are telling us it is not a matter of 'if' but a matter of 'when' the DJIA will make a new all time high. For this reason, focus should be placed on the next new all time high from the DJIA. And the key things to pay attention to are the market breadth and the participation of the other market indices making new high along with the DJIA. Until then, continue to trade on the long side with cautions.
As the market momentum continues toward the upside, here are few names you might want to keep an eye on: YHOO, YOKU, DRYS, MCP, AAPL, KKD, and NQ.
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Disclosure: Long AAPL, YHOO, YOKU, NQ.
