What do you know.

It was great day for US stock indexes, but pretty confined to the most oversold commodity stocks.

Hoping for follow through so that what I am long participates. Don’t be sucked in by the excitement. Lot’s of rebuilding to do.

The Fly summarizes why the rally worked today:

Unlike Friday, today’s rally stuck, as TED spreads and LIBOR rates shit the shower.

It’s just one day. There are so many serious issues facing our markets that you can’t get sucked in by us traders and flippers. That’s all the market has to offer right now. Buffet is talking a great game, but the hedge fund and mutuial markets have further imploding to do and the real sideline money is not betting the farm.

It feels good to be completely long other than SRS (real estate short), but I am not invested enough to retire off even 5 more days in a row of this.

Patience.