OK, the subject was clever in my own head as a play on Rebel without a Cause.
One reason, as a bear, that I liked Tuesday's back-to-school session is that it did just that - gave us a lesson in trading. I am always skeptical of breakdowns that originate at the top of a pattern and then move unabated down to and through support. These sorts of moves are prone to failure and Tuesday's trap door open proves it at least for day traders.
But this is a bear market and we give bear moves the benefit of the doubt. Look at the action an intraday chart and it looks like a bear flag.
Let the noodlers have their fun (that's Hillbilly Handfishin' for you redneck challenged). That the market gave us a head fake in the morning shakes out the weak bears and traps the delusional bulls. Stocks are cheap! they say.
Why yes they are. And they will get even cheaper.
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