An old rule of thumb held that for a rally to be a real turnaround you had to have the Dow Industrials, Utilities, and Transportation Indexes all showing bullish. We are nowhere near that now. I think we have a bear market rally acting all toppy and probably tipping. This last uptick to the mid ten K's may have been the middle point on the W of the W-shaped "recovery."
If so, prepare to dive!
Yes ! My company’s stock (a well-known and respected transport) has dived over 4 bucks in the past two weeks reflecting the continued slow-down in demand. I laugh everytime I hear the top of the hour radio news saying economists think the recession is over because the cash for clunkers program stimulated sales resulting in a 3.4% increase in GDP. The Govt will try to gloss over any news that may make their untenable position more favorable and the MSM will eat it up as they have been doing this week.