Closing comments

If one was a bear today, one probably came away disappointed. It was a tantalizing morning, but that was about the extent of it. Buying came in (yet again) and rescued the market from the precipice. Enough internals stayed negative to keep me short, but that rescue was certainly something to be reckoned with. The trendline drawn has been tested several times. If it goes it should go violently. If we take out yesterday's highs, I would have to expect higher prices. Another peg to hang a bear hat on is the VIX. Same thing here... if we take out yesterdays lows... bears need to head back to the den.

It should be noted that this discourse is all trading/short term yackity-yack. Investing here is preposterous. This market is being ruled by a belief of peak margins and peak earnings... and that is plain silly.