Sometimes you have to step away from the market for a few days, to realize just what's happened.  And as I sit here Monday morning surveying last week, I now realize what a strange, volatile week it truly was.  Early on it looked like the market was breaking out.  On the other hand, it was also dangerously overbought at that point.  

Then it reversed itself, gapping down, only to gap UP a day later and climb again on Thursday.  Friday, though, was yet another reversal, this time was a nasty fall.  

Conclusion?  I think the market is only as good as its recent action.  And its recent action is definitely bearish.  But -- whew! -- it took some doing to get there.

As for last week, the market was mixed and frankly so were we.  Winners were SFL, UPS, BWS, XL, HGG, WYN, TWC, and CVCO.  Losers were WFMI, SEED, QLGC, OEH, ERTS, and MAR.