At the beginning of last week, I had called for a slowdown in the bearishness… But the steepness and speed of last week’s market bounce were a genuine surprise.In fact by the end of Tuesday I was more inclined for a bear flag to be forming, but Wednesday and Thursday put that thought to rest. That’s how quickly the markets can change, and you do need to be fluid in your approach. That means “Trade What You See” and don’t be wedded to an opinion.
Follow the money,
— Guy Cohen