Yes. We call those green shoots. If unemployment hits 11%, S&P will surge 5% and hit 1200 by August. No worries. It's the new economy. (Oh, and VIX is up on today's rally. Suckers actually think it's different this time.)
I am short overnight tonight. (looking to exit tomorrow. I bought some tickers that are so over extended, I need the market to fall tomorrow so i can rake in some profit hopefully I personally would not stand in front of this train. never bet against the US gov.
I believe all the people who are yelling not to short now are the ones who wouldn't commit a single dime on the long side when the dow was under 7000.
i was long bias as of march 9th and stated as much in market surfers thread. i agree the markets are overbought and due for a correction this week or next but these rallies can carry on for days or weeeks. i dont know about you but i'm still nervous about trying to pinpoint this top. i still wouldn't short it yet. http://www.elitetrader.com/vb/showthread.php?s=&postid=2340914#post2340914
At 945, its best to stay away from the market. Going long or short is neither a good setup in terms of the short-term trade.