Negative Divergences Creeping In
Wasn't it just last Thursday that folks were groaning about six straight down sessions for the market? Wasn't it just a week ago that CNBC had on Warren Buffet and several other CEOs telling us how business had definitely slowed and how they were fretting over the state of the political situation slowing the market even further?
Now look at what we have -- folks are betting on another round of quantitative easing, even though Fed chief Ben Bernanke shrugged and used the same words he has been using lately. All he let us know was that he was willing to do more -- nothing fresh or new there. We have technology earnings that are mediocre but not dire, and the shorts scramble to cover. When I noted the other day that we needed to gather more shorts to fuel another rally, I did not think it would happen in a matter of hours; I really believed it would take a few more days....376 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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