I was wrong and the dip buyers stayed home today. I didn't do much either - left early this morning to play golf and didn't get back until just before the market closed. After seeing the action on the day I was pretty glad I wasn't here. Now that the stupid Dow has made its all time 12000 record maybe we can get the draw back we so desperately need for good market health.
The up/down ratio sits at 43% and new 20 day highs are still above 500 at 698 with the new 20 day lows at 148. Still not much to buy but the VIX is in neutral teritory and the three sisters all finished in the white. Earnings keep coming in well but earnings really don't matter when the market is so oversold. There are a lot of unatractive stocks out there right now. I think we should go down tomorrow despite earnings.
The magic coin only got one out of three right today among the sisters but I'm going to say it was wrong anyway so it sits at 19 and 10 which is still not too bad and for tomorrow it says --- heads - the bull is back.