Friday Appears to be 1 Day Wonder

Showing how even when markets are mostly in 1 direction they remain difficult to make money in, Friday's dead cat bounce in retrospect did little other than scald bears who were pressing. As I review the news flow and time stamps Friday, it seemed very strange to see such a strong rally based on (a) a negative reaction to Ben Bernanke's comments initially [the market sold off post 10 AM] and (b) Intel's pre-announcement on earnings.

Read the full story...