Straight-Up Action Could Trap the Bears Again By Rev Shark About this article: Rules are mostly made to be broken and are too often for the lazy to hide behind. -- General Douglas MacArthur With a strong open this morning, the major indices are looking for their sixth straight day of gains. This follows some ugly technical action at the end of October that had many thinking that a long-awaited correction was finally at hand. This straight-up bounce on mediocre volume is technically questionable, but this market has consistently produced this sort of action. We had identical straight-up bounces at the beginning of July, September and October, and in each case we just kept running until we made new highs. The tricky part about this action is that technical analysis tells us that stocks usually don't recover so quickly and easily after the sort of selling that we have seen since we topped out a couple weeks ago. You expect buyers... Or, call us at 1-866-321-TSCM (8726) Monday-Friday, 8 a.m.-6 p.m. ET. Outside the U.S. and in Canada, call 1-212-321-5200.

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