I will tell you the most positive development I’ve seen today…

Sweet-voiced daughter of Zeus from thy gold-paved Pythian shrine
Wafted to Thebes divine,
What dost thou bring me? My soul is racked and shivers with fear.
(Healer of Delos, hear!)
Hast thou some pain unknown before,
Or with the circling years renewest a penance of yore?
Offspring of golden Hope, thou voice immortal, O tell me. — Oedipus Trilogy Chorus

If that’s a bull stampede, I’d like to see what a trickle looks like.   The markets are up and are hanging pretty steady in the plus one-half to one-percent range.  For a change.  Emotions are still riding high, but I will tell you the most positive development I’ve seen today is simply the braggadocio of the bears and the shorts.  Few have caught this downside swing and ensuing volatility very well — the curse of the perma-bear is that they can’t differentiate timing — but they are loud and full of new predictions of new doom.

Perhaps, but perhaps not.  And if not doom, then at some point we are likely in for a serious, long-lasting, sustainable rally that won’t give the bears a chance to get out or the recently-sold bulls a chance to get in.   I’m not sure the bear chorus is quite overwhelming yet, but it’s getting loud and that’s probably directly correlated to the bottoming process.

No trades for me yet today, but I will likely be a buyer again if we fade into the red today.