Indices closed UP .36% to .81%.........NICE !!!!

Indices fought early selling & closed near high of the day.

Internals were :

UP volume led by 2.35 to 1 in NYSE & 2.88 to 1 in Nasdaq

Advancing stocks led by 2.55 to 1 in NYSE & 2.52 to 1 in Nasdaq

New 52 wk highs were in the lead, 138 in NYSE & 90 in Nasdaq

VIX crashed 6.98% @ 16.92

Oil closed @ $107.83

Gold closed @ $1786.30

Stocks which closed UP 1% or more included RVBD,
LEN,MS,TJX,APKT,LULU,SU,SNDK,FIO,AUY,
SLW,NTES,VMW,FFIV,QCOM,CRM,MS,VECO,
JDSU,CIEN,FNSR,C,CRUS, ARUN....

AH ER :

DECK Down 10.63%

MRVL UP 1.34%

MGA UP 4.53%

CRM UP 9.70%

AH Futures UP

AH Asian Markets UP

AH Oil UP

AH Gold Down

About market, S&P 500 closed today @ 1363.46 which is the-highest close in this rally. RSI @ 69.28.

IF we look @ recent pullback it was only 1.08% on a closing basis on Feb 10th low of 1337.35. Highest close then was 1351.95 on Feb 9th.We had a low today of 1352.28 which is higher than last closing high before one day pullback. SO...@ low today we pulled back 1.13%. Each pullback was of only 15 points roughly in S&P 500.

Today's TAPE was extremely healthy when you factor internals & VIX. Based on today's close it will be easy to go over previous intraday high of 1367.76 & march onwards to 1400 area.

My sympathy to non-guru Doug Kass who had his highest short position as of two trading days ago????

BLOG does NOT give buy or sell.

Saleem