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Doug Kass' line about the market not having a memory from day to day definitely applies today. It went from a gloomy, trend-down day to an upbeat, trend-up day on no significant news. If anything, the news was negative due to poor earnings reports from YUM! (YUM) and Baidu (BIDU).

This sort of inconsistent action is another good example of how computerized trading has come to dominate. Humans may have mood swings, but the pattern of shifting every other day smacks of computer algorithms trying to catch market players out of position.  Yesterday and last Thursday, the computers kept the pressure on, which scared out some bulls who had grown overconfident in their dip-buying. Today and last Friday, the computers squeezed the bears who have been anxiously anticipating a market rollover for weeks....171 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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