Wednesday, March 25, 2009

No Pain, No Gain

After the pain inflicted on my psyche today with the Dow up 200, down 100 and then up 89 at the close I am thinking a slogan like "no brain, no pain" would be a better mantra.

It is not the wide swings that got me. It was the market's usual habit of doing this stuff in between the time I write my Barron's Online column and it gets posted to the site. That's life in the deadline lane, I suppose.

But the bottom line is that support at 805 on the S&P 500 held at the close and the rising trendline from the March lows held intraday. Breadth was decent, too, so I remain positive on the market for a little while longer.

No comments: