No, not the most dangerous words in investing but conditions at the current decline are different than they were at previous one or two day pullbacks. Bad news is finally being punished. Volume finally swelled on the dip and dried up on the bounce. Pundits are all over the tube being very bullish. Current fundamentals are being dismissed and while the market is looking forward to what will be we cannot ignore what is.
But this market is not healed yet. Bubbles seem to be reflating ever so slightly as the villains survive to create new weapons of financial mass destruction. And I am not talking about Goldman Sachs and the boys. Ford is still making, well, Fords. GM is still making GMs. and AIG is still breathing at all, which is just not a good thing for anyone who belives in teh invisible hand of the market.