It was obviously a very good day for the overall market. The point gain was big, breadth extremely strong, and a lot of stocks were up by huge amounts. Quick flipping has been the best approach to this market for quite a while, but if you have taken that approach the last few days, you found yourself on the sidelines as some groups such as bulk shipping, infrastructure, steel and oil kept running straight up. The nature of what works best in the market changes all the time, so we need to constantly adapt if we want to perform well. At times it is very hard to do that as quickly as you should, and sometimes you will simply by left on the sidelines.
I came into the day expecting it be fairly quiet. For some reason I don't think that today is going to be our last chance to ever buy stocks. In the bigger scheme of things, this is technically positive, even if you weren't fully invested to enjoy it. The charts have been looking much better, and the key now will be that dip-buyers emerge on pullbacks. Assuming of course that we ever pull back again, which apparently is questionable in the minds of some of the buyers today.
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