Yesterday morning there was a lot of bearishness about to start the new month. March Dow futures fell to a low of 16,972. Why is this significant? The previous low on the charts had been 16,974 posted December 16th. Ironically, that low sparked a 7-session, 1256 point rally to the record high 18051 on Dec 26th! Once again, the bears got caught watching the negativity and fear by watching too much TV. Today’s high, so far has been 17495 533 points in the rear view mirror. That’s a lot of $ to lose if you were short in the hole for the last 24 hours. 533 points higher. Just food for thought for those perma bears. Sooner or later you’ll be right, but with snap backs of 500 points plus from those multi-month lows, you have to make sure you are using your buy stops to protect you. Failure to do so will be detrimental to your wallet. CER
