I don’t know what I can say about this market that has not already been said. I find it very difficult to BS about the market when there is nothing to BS about. But I will give it a shot.

I see nice round bases everywhere in EVERY long scan and CANSLIM scan that I run. Stocks like our HA long from 3/27/08 is already up 60% and MA from 8/2/06 is up almost 500% since then and now we have a lot of pretty green BOP filled charts starting to round out and complete bases.

This means that if these bases all complete their right side, we are going to have a powerful market rally with or without volume. I am stunned by how many nice charts there are now AFTER JUST ONE bullish week where leading stocks outperformed the rest.

It was another wild day on Maui as more drama occurred in my personal life today. However, it is minor and it has been taken care of so hopefully I can get back to doing what I am supposed to be doing instead of wasting my time on other things.

Well, in all honesty trying to draw conclusions from a day like today is quite useless. In fact, anyone that spent any amount of time today trying to delve into the data to find something useful just spent a whole day wasting time. Today was simply a low volume pullback and nothing-more and nothing-less. I believe, without even looking, that this was the dullest day of trading for 2008.

Today was a very strong day for all the market indexes, as laggard stocks led the market higher on higher volume. However, that higher volume was below the 50 day volume average on the NYSE and the Nasdaq. Not only that, the IBD 100 and IBD 85-85 index, which is loaded with leading stocks that historically outperform the market by a 2.5x margin during uptrends, were up 3% and 2.7% respectively.

I have some great new longs tonight. And some of my current longs made some impressive gains today along with a couple of my favorites setting up new buy points.

It is hard to continuously say the same thing over and over but it is true. There is nothing to do in this market other than to keep your trades small and your cash high. Especially, if you are a perma-bull as we are now finishing the month down for the fifth time in-a-row. This is much different from anything we saw from 2003 to November 2007.