Time To Do Some Praying

The market is holding the morning's gains and the tape is showing few weak areas at the moment. Looking over the strength, bargain hunters are picking at some of the worst performing sectors. Or, should I say that the short-sellers are giving up on their favorite areas.

Despite the new surge of optimism that Bernanke is dead right about inflation and the economy (folks really want to believe things are going to come up roses), I'm still sitting on my hands. The fact that two of my watchlist candidates - Simclar (SIMC) and Medifast (MED) are getting trashed certainly have something to do with it.

All I have to say is that the bulls better pray for a much weaker-than-expected CPI tomorrow morning.