daytrade diaries... july 29

In the US Market, stocks closed mixed, but none the less near session highs Tuesday.

The Nasdaq was the lone gainer, up 0.4%. The NYSE composite dropped 0.6%, S&P 500 0.3% and Dow 0.1%.

According to preliminary data, volume rose on both exchanges.

Medical, airline and data-storage firms were some of the best performers. Electronic parts distributors and metals were a couple of the worst performers.

The same theme for me yesterday. I'm reducing my holdings in the last 12 days of rally to start locking in profits. Some of my holdings went south yesterday such as RCP and NSL.

Themes for me today. Start looking at more defensive stocks such as telecommunications and infotech related.