Weekly Stock Market Commentary – Truly Historic Times

Stock continue to search for a bottom, but are too many looking for a snap back rally?

Many pundits and market participants are looking for this market to snap back and rally.  It is evident by a tame put/call ratio throughout trading last week.  The highest reading was not much more than 1.50 signalling many were buying calls in anticipation of a rally.  We haven’t seen our ultimate bottom, just haven’t had enough people give up on the market.  I fully expect to see some sort of an attempt to rally but we will ultimately roll back over and take out Friday’s low.

I will remain in cash until the market winds shift.

MST