Suckers Bounce

This is purely anecdotal. I have read in a few places that today's action represents a suckers bounce and was thinking the same thing myself. But generally a good suckers bounce gives people hope that the bottom is in and does not have everybody calling it a suckers bounce. This leads me to believe that the market will first need to suck a few more people in even if this indeed is a sucker's bounce.

1 comment:

Whos The Sucker Now said...

[...] At midday I wrote that too many people were calling this a suckers bounce. It seems that we now have a few more believers. One can say that the market has now done the minimum, with the S&P 500 bouncing over 20 points since yesterday morning. I am now more cautious but still believe the bulls deserve the benefit of the doubt. Have a good night. Tsachy Mishal on May 18, 2011 at 4:19 pm | Filed Under Uncategorized blog comments powered by Disqus /* [...]