As much fun as it is to cheer a giant move like last week, we have to keep perspective on this market. Some of the best historical moves come in a Bear Market environment. This move in all reality was just another "Dead Cat Bounce"
Look at MS for example. It's been a nice ride all the way up to the 200 day moving average. where does it go from here? How about Goldman Sachs giving PMCS a nod on their conviction Buy list? Wait it had already run 25% when they made that call then ran another 8% the day of. We were short PMCS most of the morning today after a big run last week. How much are they paying people at Goldman to recommend stocks that have had 25% moves?
Don't chase a Bear Market rally. Lower prices may be around the corner and we will see if the bids show up again to hold the lines.
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