yes, we can !

That is the chanting we heard a lot from Obama's enthusiatic supportters.  Just wish the bull could show the same passion.

This slow drift to low certainly will test bull's conviction and definitely will shake some weak hands out. however, there are silver linings surround this dark clouds, and it will feels good if the bull could just say to themselves each day that yes, we can :)

Despite the headline that the market went down, the change to the market is really negligiale. For instance, the change of DOW for the last week is around 100 points. Given the fact that the daily swing of the index is more than that, it is, indeed, flat.   So, is the VIX.

Yesterday, we warned that we need to pay closer attention to smh, it went up promptly today despite the downward sentimentals of over all market, confirming a strong support for the semi and tech.  Also, the last minutes buying is very encouraging too, so, hopefully, we will see a better day tomorrow.

Tomorrow, we will have initial claim number.  the job number has become incresingly important as consumer spending will have great impact on the overall economy.  however,there is a catch.  Last Friday I was listening to CNBC before the job report. the guests were include a former regional fed chairman, some economist, a trader and other talking heads.  Almost everyone believed that the market need a stronger job number to rally. only the trader disagreed.  the reason,according to him,  the trading is all about "game theory", if the job number is strong, then, there will be no rate cut, thus, the market will fail. One guest countered, what if the market goes up?  the trader replied, then, I will see it to you.  the number comes out really weak and the market rallied.

Many times, it is counter-intuitive when comes to trading, like buy when stock makes a new high and sell when it makes new low...    it is also needs a lot of belief.