rp, I see the same thing as you. I concur with your observations. I reckon you are slightly ahead of me in your time. For now everyone wants a bounce, we had five down days in a sequence. Especially the technical analysis oriented crowd. Let them have their bounce and use it to reduce cost of our positions. This market needs a capitulation in order to have a more sustained rally, we haven't had any so far. November lows will just not do it, as long as there are folks who want to break even or cut their losses from a rally. There is too much opposition to buying so far.

I hate persuading you, take it as my opinion. You've done extremely well with your strategy, so keep it in place. Good luck and thanks for sharing your insights! -junkie