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2-1-10 Afternoon Market Update

2:15pm  (originally posted on Kudrna's Stock Market Blog)

Well we still are up about 100pts as I’m writing this however the action beneath the move isn’t too promising.  The volume is low and the dip buyers are still waiting on the sidelines cautiously.  I have a few trades I am playing right now but nothing significant as I’m in protect my capital mode.  We don’t have any real leadership out there and I think it’s just a matter of a time before the Bears take charge.  This bounce just doesn’t have much belief or intensity behind it...I’m only more pessimistic on the short term market now.  I’m going to wait to add to more of my positions.  Good luck out there.


Disclosure: No positions mentioned