The intraday grind of Sept 22, 2009 demonstrates indecision in the market. Many are saying the market is due for a correction. This is all talk, until the tape confirms it. The bears have been ineffective (even for mean reversion strategies) and this feels like a surging bull market with blinders on, given almost every 1/2 percent drop finds equity buyers.
So, the game of hot potato continues, as the hottest asset class this year (equities) have recovered significantly (> 50%) from March 2009's low.
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