| The siren call of the rally. |
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| Written by Gary B. Smith |
| Sunday, 21 February 2010 15:18 |
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Are you loving the current rally? I mean up roughly 3% last week. Counting from the open, not a down day in sight. Volume stinks, but who cares about volume when the direction is STRAIGHT UP! But this is how snapback rallies look and feel. Just when all hope is lost, there is a maddening climb right back to the broken uptrend line, with the rally lasting so long, you kick yourself for bailing out at the lows. But, breathe deep, my friend, because just when you're thinking of getting back in, the rally stalls. And where? Usually right at the uptrend line it previously shattered. And then -- just when you DID get back in -- the market falls even further than before. Yes, maddening, only this time in reverse. As for last week, not bad considering the paucity of picks. STEC and WCG were wins, while PHH and ARB were flat.
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