The market reaction to the employment report and the stress test has the bears scurrying for cover. The stock market bears are already battered and bruised after eight weeks of almost straight up rally, which has sent SPY up over 30% from the lows.
Obviously, some traders have made huge money during this run. Especially those very few lucky ones to load the boat at the bottom. V-shaped chart bottoms are rare, and notoriously difficult to trade.
For long termers, there are going to be much lower risk buying opportunities down the road. Right now, it is high risk to be shorting as well as adding longs. That familiar tune is one that many a trader has been repeating during the eight week rally.
Long MCD, VMI
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