Monday, October 13, 2008

Fighting The Resistance.

Wow! The Dow up more than 900 points after practically every government in the world decided to throw money to unfreeze the credit market. The DJI, SP500, and the NASDAQ are up over 11%. It is hard to resist from buying into this relief rally. But I'm not fooled by the numbers. Most of the stocks opened with such a large up gap, unless a long position is already exist, today's gains are elusive. Having more than 900 points gain after a week of over 1800 points loss on the Dow is very suspicious on this rally's sustainability. But even if this rally continue for a few days, I need to continue to resist from getting suck into this relief rally and wait for the market's verdict.


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