The Pressure of Contrarian Investing

Yesterday was a day when all the cheerleaders came out and pushed the company line, Bernake, Paulson, and Simon.  This has given the stock market a little bounce.  While no situation ever exactly repeats we view yesterday and today as being a lot like January 9th and 10th 2008 when the market pivoted around the 1406 swing point with a 4 percent range around it.  The current swingpoint on the 1420 to 1100 cycle is 1270.  As such 1285 is a possible rally point, but we still believe the market is headed lower to complete the cycle.

8:14 AM CDT

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