REVERSALS?

We are being asked quite a few times today whether the market can reverse back up today…so…in past weeks we have seen a 900 point reversal in 90 minutes…a 1,000 point rally out of nowhere in just a few hours and our actual favorite was NewYear’s eve day when the Dow rallied over 150 points in 30 seconds…so of course one is possible.

But again, too many remain focused on the short-term craziness (the trees) when they should be more focused on the big picture (the forest). The big picture, notwithstanding near term craziness, reversals, reversals of the reversals and all that crap…remains quite suspect. Shorter-term is just that.