More Meaningless Action

Whenever we have weak action like today, the bears are quick to proclaim that a top is in and substantial downside lies ahead. In view of how little success the serial top-callers have had, it isn't too surprising that they are quick to embrace the first sign of weakness.

But in the bigger scheme of things, it was meaningless action. It has been a couple of weeks since we've had any downside and we certainly could use some consolidation. The market can easily afford further downside. In fact, it would be a positive if it pulls back and shakes out the complacency....939 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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