Will Today Be The Day 2oversold.com Becomes A Bull?

The futures are currently up very strong this AM. In fact the DOW futures are up over 100 points indicating a very strong open. Wal-Mart reported very good numbers and the retail report is expected shortly. So of course I am very interested in how the markets close today.

As I have stated in many previous blogs I wish I could say, “Hey I was wrong” all is well with the economy and the markets are heading higher. But to date I have not in all honesty been able to make that statement. Will today change my view? It very well could. If the markets open as strong as the futures indicate and we do not see the bears step in and use today to sell then I will be tossing in the hat on the bearish stance I have had since Nov, 2008 and start looking for value in tech and finance sectors.

I don’t expect I will have to change my opinion. I don’t think the markets will close with the type of gains that are being indicated by this mornings futures. But if we have a blowout day to the upside then a revaluation of my thinking is in order.

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