Watching The Intraday Rally

March 18, 2008

As I sit and watch this about all I can think of is how the 5 400 pt. up days on the DJIA ALL!!! failed. And that the nine best days on the Nasdaq all occurred during the 2000-2002 bear market NOT!!! the 2003 bull market. So while you watch the rally today on NO VOLUME, remember, you JUST SAW THIS seven days ago! How did that turn out? Where is the volume? And why did the market gap higher and not allow anyone to get long in the morning? Ah all the signs of a bear market bounce. If it feels painful, it is a bear market bounce. The time to start buying will come when the crowd sees a big 3% gain on higher volume and tells me “it’s going to fail.”

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