On another note, this past week has been my worst in years; my market shorts are getting crushed as the Central Bankers (Planners) over at the EU have been letting everyone know that they will keep printing until all currency is worthless. China does not want to be left out of the party either so they announced another rate cut overnight. The currency wars (or a race to the bottom) are ongoing.
At this point the market is very near recovering the old highs. Most of the big boys like MCD - MSFT - GOOGL - AMZN are all exploding to new all time highs. It almost seems as if they have to make up for the 30% of the remaining stocks which are stuck in bear market territory (it is tough work but someone has to do it...)
During the pullback in 2011, the market action was somewhat the same: A massive rally off the bottom to a high around October 26 - then fading quite a bit until about the third week in November, then the obligatory Santa Rally that took it to new highs. I am looking for the same type of action now. I should add that I am less confident in this view than I was a day or so ago, but for the time being, I am sticking with it.