It's not going to be a one-way trip. But the bear is dead and we're transitioning from a bear mood to a bull mood.

The market has done a good job of ignoring signs we have bottomed. That's more a ghost of the bear market than any disbelief in the numbers. A dog that's mistreated doesn't trust a hand extended in kindness. This will change.

The market has done a good job of ignoring signs we have bottomed, ... That's more a ghost of the bear market than any disbelief in the numbers. A dog that's mistreated doesn't trust a hand extended in kindness. This will change.

(Intel) is down but not out. We have a very nervous market and it's the dog days of summer. We are short-term overbought so we're giving some of it back with the excuse being Intel.

The market was subject to a very normal pause to refresh. Why not ? Bonds have been up big. The market had been up big. We were vulnerable to good news, bad news, no news. The underlying bull market remains very positive.

There is only one side of the market and it is not the bull side or the bear side, but the right side.