It is very interesting when a variety of stocks in the same sector take gas. Awhile back I noticed that 14 of the 15 Internets I track took gas, ranging from 1/8 to 7 and half points. When these shareholders collectively figured out that they're playing musical chairs and they're short one chair, it got ugly.

What is always important is increasing market breadth. When the Russell 2000 is up over 10 points, which is a tremendous gain for that index, it indicates market breadth. Trying to read breadth on the Dow Industrials may be about as rare as getting two full moons in a single month.

I would still hold the market leaders and would avoid the temptation to sell them at high prices in the hope of buying them cheaper some weeks or months ahead. As previously reviewed, that's too hard to do. It's known as market timing, and not many investors do it very well, as they don't buy back in when they should, either out of greed or fear.

I would commit new funds to mid-cap and smaller issues, providing the earnings outlook and growth story make sense. Stay tuned.

The Market Pro

---