Smells like asset allocation
Yesterday looked like a large asset allocation kind of trade. It was definitely a programme at work, because there was always an underlying bid. So large elephants may be on the move. The best part of the move was focus on small caps.
If this move has legs it will offer several opportunities. Normally the market moves are like a pop corn bag popping, some pop out soon, some later. So there will be lots of opportunities during the move.
I am finding lots of stocks in my earning, sales, momentum database making a move. The earning season should also bring in fresh opportunities. The overall market climate for last two quarters has been dull , stuck in range. As a result number of good earning plays have been stuck in range inspite of having good earnings. Some have already made moves and there are lots waiting in the wings. So this move should have some leg. There is lot of gas in the tank to fuel this move up.