Market Thoughts March 1 2012

We had a short, sharp pullback on February 29.  I don't think that was what any of us were really looking for in terms of a correction, but we play the market as it is.  It cleared out some excess and gave some longs an excuse to panic.  It was one of those "shallow pullbacks" that I was talking about in my last commentary.  The pullbacks have to be scary or they don't work.  The cold, hard fact is that this uptrend remains in place for the time being.  We'll all know when it ends, the Futures will just keep going down.  They didn't last night.  Enough said.