I know 100-point up days get investors excited. But for me, I'd prefer to see the market take the slow and steady approach - 25 points up one day, 40 points the next, another 30-point advance, and so on, and so on.

Indeed, the wild and crazy days generally induce more trading in the market. That is, the mentality of the typical investor tends to shift into short-term mode when stocks are flying around 100 or 200 points a day.

Conversely, a more subdued advance usually has legs because investors are less inclined to be looking for the quick kill. Rather, investors tend to be willing to buy and hold during slow, methodical, consistent rallies.

Thus, I don't think the market does investors any favors when it is flying around, even to the upside.

Unfortunately, recent market activity has been characterized by such volatile trading days.

Don't be surprised to see the market move lower if the only up days continue to be these sharp, 100-point advances. Trust me - you cannot sustain a rally with such erratic moves.

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