February 13th Daily Market Comments

The markets continue to show good strength, the Dow confirming a J-hook pattern, the S&P 500 not resisting at the 200 day moving average. There is also intraday profit-taking occurring in many of the stocks that have had good strong price moves. Profit-taking is adding strength to the overall trend, diminishing exuberance. Continue to stay long but the emphasis still remains on individual stock charts. Be prepared for sector rotations. Crude oil prices are still in a steady uptrend, watch the oils.