Today looks like a "resting day"...

With the Dow completing a 900-point, 11% move in just 2 days, you might think the market would be due for a rest. It did indeed do that today.

Another last-hour rally carried the Dow into positive territory, with a gain of 36 points. The Nas was not so lucky. Although it also had the same last-hour pop, it didn't make it to the green. It closed in the red 7 points and change.

Even with the uber-strong recent market action, I'm not really ready to say "back up the truck" and buy yet. After all, the market was tremendously oversold, and was due a "relief rally" at least. But the long-term chart still shows a decidedly downward trend. And recent action... at least so far... could be just a blip on the radar screen before this mess is cleared up in the worldwide economy.

But there are always things to play - no matter what the market is doing in general. You just have to stay on top of what's going on - each and every day.

For example, I mentioned the Solar stocks yesterday, and how they were starting to make nice moves. CSUN was a stock I singled out. It was up a fraction over 49% yesterday. Today? Another 48%. Sweet.

See? You just have to be alert. There are tons of opportunities to make big gains in the market each and every day.

My paying Members will be treated to one now...

What's this? The market's up two days in a row???

I'm starting to get a "good feeling" about the recent pullback being at least a playable bottom, if not "The Bottom."

With the Dow up almost 900 points in just the last two trading days (and back above long term support areas), it's good enough reason to start to get a tad bullish. And the Nasdaq did even better today, with a solid 6.33% move to the upside.

The latest "good news" - at least for today - seems to be centered around the proposed bailout of Citigroup - another major financial company deemed "too big to fail."

So as we enter the week of Thanksgiving here in the United States, perhaps we have even one more thing to be thankful for this week!

Most stocks were up across the board today. But especially noteworthy is the Solar sector. It was extremely "hot" today (OK, easy pun... but it works). Several stocks in that shining sector were up 40% and more today. Check out SPWRB, JASO and CSUN for examples.

And there are TONS of strong bottoming reversal candlestick signal patterns today. Morning Star patterns can be seen everywhere.

Also, there are so many RSVP setups this evening that I decided to play the one nice ARM pattern I found (paying Members only of course).

Did Friday mark "The Bottom" for the market?

In any bear market pullback, almost every market watcher on the planet is looking for "The Bottom."

After all, if you can decipher where the EXACT bottom of the bear market is (and you buy into it) you'll be sitting very pretty a few months down the road, and quite possibly wealthy in a year or two.

Last Friday could very well turn out to be "The Bottom." Or not.

It has some good signs though. Friday's candlestick pattern of the Dow chart, for example, shows an extremely positive pattern I call a BEaST (Bullish Engulfing on Steroids). Volume was the best in months on the buy side, and stochastics show an oversold situation perhaps about to get better.

The Nasdaq chart candlestick pattern is positive as well. It's showing kind of a Bullish Kicker Hammer setup, a fairly rare pattern and also highly positive.

The price of Gold rebounded back over $800 an ounce Friday, sending some of the Gold Mining stocks up mightily. Some nice symbols there include AU, NGD, GFI, HL, LIHR, XRA and others.

Anyway, whether or not Friday marked "The Bottom", I think it's time to get a little bullish here.

The market is going down the toilet...

With the recent solid support in the market now history, I have no clue where this market will bottom out.

So why am I still recommending any stocks here? It's because I'm still seeing lots of charts defying the market's weakness. Or perhaps charts of stocks so bombed-out already, they almost have no place to go but up!

To say some of these stocks are being "given away" is perhaps the understatement of the year. I've never seen so many price to earnings ratios in the single digits, and some in the very low single digits - like 1, 2 and 3! Now I know how John Templeton became a multi-millionaire in the last Great Depression - he just bought as many as these horrendously shellacked stocks as he could and just hung on!

Here's a small pharmaceutical company which may skyrocket on Friday. It just landed a deal worth $25 million! And the stock sells for a buck and change (for my paid Members' eyes only of course).

The market blows support...

Maybe I should have kept my mouth shut.

As soon as I made some comments about being impressed that the market had held support over the past few weeks, most indexes blew away their support levels on the downside today.

So take cover and be very careful in this market now. It could get ugly... or should I say... even uglier.

But that's for the market in general. You could have made 22% today as a day trade on my latest RSVP pick, for example. And I'm about to name a stock below for my paid Members that just doubled in the last nine days, and seems poised for more.

The market holds at support again...

Well, it was "touch and go" for awhile today, but once again, the market held (and bounced off of) a major support area.

Both the Dow and the Nasdaq were up big, and then down big. It was looking bleak for a while, but both indexes turned on a dime in the last hour or so of trading, closing at or near the highs of the day.

The Dow was up a shade over 151 points, and the chart shows yet another Hammer off that solid area of support in the 8,000 area. The Nas ended flat, but its chart also shows a Hammer / Doji off of major support. That's good news for the market, and may even mean the recent rally attempt is still alive.

We are back! And once again, the market is at a "crossroads" situation...

We're back from our little "break."

The stock market has continued to do what it's been doing for several weeks now... teasing us with big moves on the upside after finding support, only to give those nice moves back and fall to support areas again.

So there's really nothing new I can say here, except to keep watching those support areas for violation to the downside. That would be bad news indeed.

For the Dow, that area is around 7500 and for the Nasdaq it's around 1500.

I'm not sure what the catalyst is going to be to jump-start this market. I must say I'm fairly impressed to see it holding up (at least so far) in those support areas, with the onslaught of bad news hitting the market each day.

So right now, it's "one day at a time."