We have been inching up slowly since the big gap down to start the day. Even a weaker-than-expected ISM manufacturing index didn't have much of an impact. It is very ugly, with breadth running just 700 gainers to 4500 decliners and all sectors green, but there is some dip-buying interest.
Many market players were woefully underinvested last week when this market exploded higher, and they are overcoming their fears and inching in as they finally see better entry points. In addition, you have to be on guard for another Europe-is-saved rally. All it will take is for Greece to say it was just kidding about that vote. On the other hand, if we don't see anything out of Europe soon, we could roll over very fast.
I've done a little buying this morning and I'm looking to do more, but I'm not going to move too quickly. VirnetX Holding (VHC), which I mentioned Monday, is moving nicely on news that it's been awarded a new patent and that it is suing Apple (AAPL) for infringement. I added Cheniere Energy (LNG) to the Sharkfolio this morning and will be looking to average into that further.
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There has been some talk that GOGO could be a target of private equity.
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