Market rally is impressive, but are we really dead set on a market bottom?  

Goldman Sachs (GS) is out there telling you that the bottom is in, so is Morgan Stanley (MS). 

But should they be trusted? Could there be ulterior motives at play there? I'm just not buying this hype that suddenly all is well and no longer need to worry about the market's downside while the economy is still in a full-fledged shut down with no end in sight. 

I haven't bought into this rally at all.  

First of all, it is a crazy thing to go chasing these massive gaps higher. "Buy hundred point gaps higher"...Sure - no problem! 

I'll pass. 

Now you have a potential pain trade, because a lot of shorts have probably been squeezed out of their positions. No doubt they are probably itching to get back in them, while the majority of traders are riding the "hopium" wave believing the bottom is in and they should get long now or miss out on a massive bull market rally. I can easily see a lot of traders getting trapped here because the FOMO was to great yesterday and today. Be careful you're not one of them. 

First off, if there is a bottom in place (and nobody knows that!), there will be plenty of time to benefit from it. It isn't going straight to all time highs from here. Better to wait for ideal trade setups that offer the kind of risk/reward that limits the former and expands upon the latter. When you have 100 point gaps higher, that won't do it. 

Despite horrible economic news, the market has held its recent gains. 

If you wondered what it looks like to climb the "Wall of Worry", the stock market is doing exactly that right now, and doing an amazing job of it too.  Because the world is staying home to fight a pandemic, the economy is paralyze - but the market continues to hold the rally off of last week's lows.