A nice rally from the lows, and the day's trying to end on a positive note. The bulls just might be starting this rally a bit too early, as it's a long 90 minutes before the close, and the bears haven't even given it their best shot yet today.
Regardless of whether the market ends strongly or fades into the last hour, the bears are still fully in charge here. Jim Cramer and Bob Marcin are debating whether there are enough bears or whether that even matters. On the one hand, Jim says that we should be able to find some sectors to like even as the markets continue to trade poorly. The one problem with that thesis is that these rolling dislocations have been taking apart every sector and every asset class in every financial market around the globe, and nothing much has been safe during these latest ripples.
And I do agree with Bob that there are very few bears on the TV or in the print, aside from those who were wrong the whole way up. The path of least resistance remains down, and I remain focused on cash again. Still. That's how it goes sometimes.
P.S. Will you be there when Cramer makes his next move?
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At the time of publication, the firm in which Willard is a partner had no positions in the stocks mentioned, although positions can change at any time and without notice.
Cody Willard is the manager of CL Willard Capital Management, LLC. He is a regular guest on Fox News, CNBC and other networks, and he writes a monthly column for the Financial Times. He is also an adjunct professor at Seton Hall University and the author of TheCodyReport.net, a monthly stock market newsletter. Willard appreciates your feedback -- click here to send him an email.
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