Recap May 3 ~ Enjoy the ride.

"Stocks snapped higher following a stronger than expected reading of April non-farm payrolls, with the S&P 500 gaining near 1% to edge back into positive territory for the week.  That broad index is up 17.5% year-to-date.

Elsewhere, Treasury yields ticked lower with the 10-year settling at 2.53%, while oil managed to buck bearish commodity price action with WTI finishing near $62 a barrel.  The VIX shed nearly 10% to fall back towards 13."

                                           The trend is still up, no hedges on.

Are you too complacent?

When it comes to trading “if you don’t know who you are, then what you know doesn’t matter."

"The Market As A Guide"

Interestingly, as we have observed a number of times, even though major averages may move higher, it does not mean any new high quality names become actionable. Always keep that in mind when running your own screens and wondering why you might not see any entry points in your favorite stocks. Patience is always essential, thus best not to force your portfolio into stocks especially if the entry points are not there. 

"One Picture Worth Ten Thousand Words"