The Bulls Strike Back!

Talk about a volatile market...

Bulls came back in a BIG way despite mixed economic indicators. I heard that many hedge funds are taking positions these few days, taking advantage of every single sign of weakness in the market to establish positions. Sometimes it takes weeks to put on a single position when you have that kind of money. This is also in line with the recent surge in institution sentiments as indicated by my proprietary Institution Sentiment Index which you can see at OptionTradingPedia.com. They are obviously trying to take bullish positions today in expectation of an optimistic Job Report tomorrow. So far, the market is still in a general bear trend and the surge today certainly cannot be taken as the start of a rally until I see a definite move from bonds back into equities.