Circle The Wagons

Nice job! The bulls were able to circle the wagons and stop the blood flow. Now, we'll see if they can put the bears on the defensive.

Intraday bounces like we had will embolden the bulls, restore some confidence, and rattle the bears. But, it may indeed prove fleeting. If anything, we should expect a series of these battles in the near-term. The only thing we know right now is that the bulls aren't going to go down with a fight but that there's plenty of reason to stay patient and let the dust settle.

Like usual, I'm running numerous stock screens and paying attention to what is working. Some examples, at least for today, include the following APAC, ASTI, BAM, CLN, CMGI, CRYO, CTB, DECK, DRYS, DSTI, EDGW, LDG, PRGX, TESOF, TSO, TTEC, and VEH.

We're in the midst of a good old-fashioned snow storm. So, in just a few minutes I'm going to turn off the computer and go out and build one heck of a snowman! See you tomorrow.