Wednesday, February 6, 2008

Bear Market Back So Soon?

maybe. or what if yesterday was just a little retracement? okay, 'little' might not be the proper adjective. but look, the Dow Transports still seem strong, the Industrials still haven't given back even half of the advance, and neither has the S&P or the XLF.

granted, everything does look horrible right now, but I guess I'm too much of a contrarian to buy (or sell) the hype, not that I've any real clue what would put this market back up. maybe the ECB will cut rates tomorrow? everyone's said they won't, but it looks like they'll have to eventually, why not now? CSCO releases earnings after the bell today. PEP releases tomorrow morning.

in any case, aren't you glad you bought FRX and especially ALO after reading my last post? (CY hasn't been so impressive, but if this overall market action does prove to be a bear trap then CY should perk up real quick. if...then, if...then....)