Day 18 – W Bottom? | Wallstreetstockslutions.com

The markets are trying to churn out a base- a W shaped bottom- is what it looks like. While I am not believing this is the bottom, we are doing some constructive things. We successfully reversed and held on the 200 (with a bullish engulfing pattern), held the 20 yesterday which is a nice short-term sign, followed through today on that positive note up over 100 points, and the markets have had enough of a correction to justify a new trend reversal. All eyes will be on Greece this weekend (what’s new). But I feel we are just being dominated by HF (high frequency) trading, as always. With stocks pulling back over 50-70 percent from their month ago highs, I feel that while buying stocks might not be the best idea here, selling them now is definitely not the solution. We just don’t have that much downside left in them, unless this really is the beginning of another 2008 bear market.. Too late to short unless you are trying to time this market- or until we break the 200- like we have been saying all along. We have really beat that dead horse.