Market summary for May 26th.

I know, the market went up today. So be patient. In my last post I said it would be like a staircase. We may go as high as 8,900 on the Dow before we drop. Just because we spiked up today on nonsense measurements, i.e. Consumer Confidence, the real estate data was terrible, reenforcing the notion that the decline has not stopped or turned. It was painful to see a big drop in TZA today. What did I do. I bought more shares as low as $25.60/share.

The Put to Call ratio closed at 0.70 while the VIX closed at 30.26. Remember watch the Dow and S&P 500 Indexes 200 day Moving averages, as a guide to where we are headed.