Here's the bounce I was expecting and man....it's a monster one.... but I'll say it again, although these big gap up days sure feel good if you are bullish they seldom aren't sustainable and tend to get filled within short order. Not only that but they suggest further bearish action will follow. Since about the middle of the November I have found myself talking bearishly quite a bit....well, that's because market action is making me. For the vast majority of this run since March we would tend to see healthy market action characterized by weak/flat opens followed by strength during the afternoon. For the past couple of weeks we have seen the opposite. Dumb money appears to be entering the long side of ths market. This suggests 1 of 2 things. 1) this is the final phase of this rally that began in March or 2) The market is setting up for a correction to shake out these Johnny come lately bulls
I'm thinking the answer will be 2. We'll soon see...
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