With the Dow up 110 points today I'm sure bulls are coming out of the woodwork, calling yesterday the bottom. I beg to differ (haven't you heard of this before?!). Note that the Dow led Nasdaq and S&P which does not make a convincing start of a rally. In addition, the breadth was uninspiring. I stand by my WAG which is 3 for 3 so far. If anything, I now think the likely drop in the next two days may be so big as to make your head spin if you're long.
Tonight I'm leaving on a road trip which will bring me to Niagara Falls on Friday. The trip was arranged by my wife sometime agao. Coincidence?!
The above is not investment advice, so please do your own due dilligence. Good luck and be safe!