Quote from doublea:
I knew that it was a great opportunity to cover my shorts when Pretcher called for a crash, but my analysis still point to a lower S&P so I'm short here, although it feels stupid being short after such a huge day. I need to take all the signals and not second guess my system. I do not think we will see the year end rally like we did in 02-04. At least the bond market doesn't point toward to a year end rally yet.
A crash is more likely than a rally from this point. We'll know soon.