Rallius Dumbassus

I've been traveling for the last two days, so I missed the freak show that was the last two trading sessions.

For Me, Wednesday was the wondrous day of amazing instant profits, and Thursday was the disappointing day of giving it all back (and a little more)

After glancing at a chart for the first time in days, one overriding thought strikes me: this rally simply had to happen.

I'll tell you why.

Firstly, the market collapse over the past few days has been just about parabolic and has trapped many traders on the wrong side because their thinking has been "we are rallying off of the Oct 10 lows".

Secondly, after this nasty drop, yesterday we dropped below the Oct 10 lows. I surmise everyone and their uncle Ned went short at that point thinking the big collapse is at hand, giving the Working group or any market maker with any sense a chance to force some running of stops...and it worked really well.

But in my view the bears still hold the trumps:

1. Volume was tepid yesterday, and moreover

2. The economic news is APPALLING.