Stock Market Commentary for Tuesday, May 31, 2005

[Some minor changes in the actual column since Saturday]

Friday was a classic, slow, pre-holiday trading session.

Traders and short-term speculators tried to force a little profit-taking, but they quickly ran out of gas and the market recovered for the rest of the day, with Nasdaq rising a modest 4.49 points to a new high for the current up-leg.

The economic data was so-so.

Nasdaq trading volume was extremely light (1.27 billion shares), and breadth was modestly positive, with 1.24 gainers for each loser.

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-- Jack Krupansky