Be Ready to Shift Gears

The art of war teaches us to rely not on the likelihood of the enemy's not coming, but on our own readiness to receive him; not on the chance of his not attacking, but rather on the fact that we have made our position unassailable.
-- Sun Tzu

Despite some better-than-expected jobs news last week, it is very easy to make a bearish case against this market right now. Positive seasonality is coming to an end, problems in Europe are bubbling up (although we ignored them a bit last week), there are plenty of earnings warnings and indications that earnings season may produce tepid results, and the market still lacks leadership and momentum. In addition we have a high level of complacency, with the level of bearishness in sentiment polls at extremely low levels....484 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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