Market shrugs off N. Korea’s Nuke test, end higher.

Big news after the close as GOOG snatches youtube.com for 1.65 billion in stock. Why lead off with this? I’m random, deal with it!

Waking up this morning Americans were notified of a nuclear test conducting by N. Korea. Now, I firmly believe that N. Korea is bluffing. They are the small kid on the block doing some stupid trick to grab attention. We absolutely should not ignore or overreact to the situation. The UN and N. Korean neighbors should start to put pressure on N. Korea. Enough geopolitics, stocks sold off early only to rebound.

Small Caps lead the charge, here are how the indexes stacked up today:

Dow +.06%

Nasdaq +.51%

S&P 500 +.08%

Russell 2k +.64%

S&P 400 +.56%

S&P 600 +.65%

NYSE Comp +.05%

Take notice of volume coming in lower across the board giving the bears some fuel to their pathetic fire. Last Thursday AAII survey showed an enormous jump in Bears eclipsing Bulls by a wide margin. Distribution days have not been seen in a few weeks, we’ll become concerned when these start popping up.

Took test positions in FTEK and GILT today. I was finally able to sell out UACL.

Look for the market action in the coming weeks, if we start getting distribution days start to peel back your holdings.

Good luck and see you at Investors Paradise.

MktSpec