The stubborn Bull

The headline news is that the DOW has been down 4 days in a row,   that probably has not happened for some time, but things are much better than the headline news suggested.  Even though volatility was very alive today, it has more to do with shaking out weak hand than anything else.

As observed before, if the market rise amid a slew of bad news, normally, it means that the troubles are already behind us, the market has discounted all those bad news.   The same can be said when the market refuse to go down amid all the doubts and repeated Bearish attach.  In fact,  this market is a stubborn Bull.   and normally, when market refuse to go down, it will eventually turned higher, hopefully, the time can be sooner.

Obviously, not all is well,  financial/housing get hard hit, but the technology has taken the center stage, the strong earnings from intc, ibm, yahoo, ebay (the earning itself is impressive), and tonight goog certainly will attract more attention and money to the nasdaq.   Wonder where all the money go when people sell their financial stocks,  they came to the technology,  that is why we have seem DOW/SP500 down but NASDAQ up..

As long as money stays in the equity,  this bull will remain stubborn.