A glimmer of hope quickly gone for the bears.
The bulls have bounced back pretty well today. It is an impressive day for sure and if things hold up, they will be establishing new all-time closing highs.
The Dow strength is impressive to, as it is managing to rally despite Goldman Sachs (GS) being down over two percent on the day. Stocks like Boeing (BA) and IBM (IBM) is in a perpetual rally and keeping things together today.
At this point in time, I am not going to short any stocks. Yesterday’s sell-off was nice gesture by the bears, but that was about all it was. It screwed up a lot of people’s positions, triggered some stop-losses, but nothing more. Today is making yesterday seem as if it never happened.
As a result, any reason to short this market has been put on hold for now.
Here’s my bearish list of stocks:
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