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[BearItch]

Congratulations to the bulls as they scorched the bears with a buying frenzy on a perceived neutrality move by the Fed. It did not make any difference that this may have not have been the case as progammed buying bred more programmed buying and buy buttons could not be hit hard enough so much so that some just jammed on overdrive. Bears surely capitulated by joining the party and losing their conviction. Bulls feasted on bears but in the process killed off their best friends. It seems bulls are left on their own to support this market for now and the hope is that they will not blink and leave the party with their winnings all at the same time.

Edited by BearItch, 21 March 2007 - 04:35 PM.

[hiker]

the no. of stocks I track within 3.5% of their 52-week highs increased by a large % margin today...I currently track about 1200 stocks for this statistic, and the number at yesterday's close was less than 200...more than double that right now...excluding REIT's, ETF's and most utilities....yes, some of it is obviously short covering when I look at the individual equities that strongly moved up today from 8 to 6% below their highs as of yest close....bulls may have targeted these on their shopping list since these are well known rising trenders with a 3.5 year rising trend history in many cases...personally I was long 49 stocks this a.m...and am now long 54 stocks...short 6.

Edited by hiker, 21 March 2007 - 04:57 PM.