Watch The Canary
We got the two day bounce in (TDG) after the earnings, that I was looking for. This current stock market bounce is right on schedule, since the canary is usually two or so days ahead of the market. How it closes today and it’s behavior on Monday will be the key to whether this is more than just another short squeeze or not. So far I am NOT convinced the stock market has reached any type of meaningful bottom. Based on the canary’s past history, I expect new lows in it fairly soon and the stock market to follow it down shortly thereafter.
Roger that Sir Chartsmaster.