Holding The Line

The market has never made it easy for any of us. Retail sales were pretty good and oil is down a couple bucks as the greenback shows a little strength. Futures are up nicely and it looks like everybody forgot about the miserable action yesterday. There are some real negative issues with the banks again this morning and I don’t believe any strength can be sustained with that important group in turmoil. I consider this move a reflex bounce, for now, and don’t have much confidence in these gaps up. I will most likely be using strength to add to my short exposure.