Friday, April 18, 2008

Bear Dreams

Well, like every great directional play, you get a couple chances to load up. For true bears, this is the opportunity to give the bulls some of this and some of that, laughing with hands turned out.
As the bears claim, and there are many smart ones currently, this market is not only no good, it is early in the no good. The bulls however claim low stock prices in certain sectors provide enough cash to reclaim bragging rights to the major direction of the market. Now, the bulls can win by working the sideways market over time. There are no such directional victories for the bears if they cannot repudiate these powerful rallies. Down means way down.