We didn't see the surge in MM funds that I thought would have shown this morning but the rydex ratio is definately heading in the right direction. It's ALMOST there but not quite!
All in all, it appears as though the bears are using up a lot of gas here when you look at the VIX, put/call ratios and rydex data however they could still have one more decent swipe at this market and we aren't quite there yet with respect to a strong contrarian buy signal.
Mabey I'm getting too picky here and frankly I think I am. Buying on weakness from this point would likely pay off nicely a couple of months from now....just be prepared though for the possiblity for more pain and so don't use up all of your ammo.
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