Is that the best you got?

Is that the best you got?

For all the bluster out of the Bull pen heralding the arrival of the bottom and the next big run up, DJIA + 3.91 pts or .06% , on substantially lower volume, is the best follow through we get? A tape where the high of the day is reached 20 minutes after the opening followed by aimless churning and a steep sell off into the close leaving us fractionally positive, is the validation? For all the failed long only "professional" money management types doing the bottom is in happy dance over the last few days, that was "IT" I think that Bruce Springsteen said it best in his 1980 album The River, I don't wanna fade away Oh I don't wanna fade away, but fade is exactly the order of for the day for this market. With numbers on Initial Jobless claims due out momentarily, and it is doubtful they will be benign, lest we get a Bernie Madoff conviction rally, or some fireworks out of the congressional hearings on Mark to market accounting, I predict pain, pain. I have gone longer over the past week, my inclination is to round up any profits on the long side, and leap back to the warm familiar embrace of the 3 bears. Here is to hoping I am wrong!

UPDATE 1 915 AM EST.....GE rallies on S&P downgrade, phew only to AA+, retail sales crushed, but less than expected and continuing un employment claims print a record high. This is starting to have all the hallmarks of a world class suckers rally, Treasury Secretary Geithner should announce resignation immediately if we want to have any hope of follow through.