Beyond Explanation

Once again, the market pulls off a classic "bearish suck in." On Thursday, sentiment had turned down with a couple of failed bounces and a good amount of technical distribution. It looked like a good setup for further selling. But just as the bears started to rub their grubby paws together in anticipation of downside action, the market gapped up the next day and before we knew it, the market recouped the prior day's losses and more.

There was no particularly news to explain the action but the mood suddenly changed and the big worry was not having enough long exposure. Breadth was the reverse of yesterday, but the bears will be sure to point out that volume was down slightly. Overall we suddenly don't have a worry in the world and Cyprus is once again just a nice little vacation spot for Europeans and Russian gangsters....1136 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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