Bear Mountain Bull

It’s time again for a little BMB R&R, especially with the market behaving as bizarrely as it’s been. Maybe if we stop watching it start to behave a little better…

Posting will be very light and variable over the course of this week, but we’ll put up an open thread each market day for our readers to comment on the day’s market activity or to post any interesting links they might run across.

Check the space below for whatever the latest might be during this ‘off’ time, and please visit the various sites in the ‘Links’ and ‘Regular Stops’ for up-to-date market news and analysis.

BMB will be back in full swing by next weekend.

Not enough energy to post much after a long day today, but it would appear that the market put in another happy day today. That makes three in a row, four out of five.

It figures that as soon as the indices broke support levels and sentiment indicators turned bearish, the market would reverse upward. That’s just been the way of things for quite some time now. I suppose we have to be encouraged that the market just refuses to fall - now we have to see if the strength can actually last more than a few days, and try to discern which would be the best areas to put your money into. Ok, MY money into.

On the flip side of that, I’m seeing some good “pullback” setups on the short side for those willing to go that way in this environment. One area that would appear particularly ripe would be the homebuilders: many of those names have bounced nicely in the past few days, and might be good short candidates if — and only if — they resume their downtrends. Considering the recent market strength, I’d be conservative on my entry points.

BMB will be out of the office most of the day today. It’s possible I’ll get a post or two in this evening, but for sure I’ll be back on duty tomorrow morning.