THE PISANI BOTTOM

The markets are very volatile today with the major market indexes all over the charts. The market internals have climbed from a low of 3,500 more losers than winners to only 2,200 more losers than winners. The SMH has been green most of the day and the OIH has turned slightly positive and I expect the next dip this afternoon to be bought by the last of the dippers.

And did Pisani just call the bottom while looking for the blow off that all technicians will recognize and declare as "the bottom is now in." Bob is looking for a high volume blow off that sends the DJIA down 200 points. My guess is that Bob will keep looking but I doubt he finds it. The markets rarely give anyone exactly what it is they are looking to find. By the way, did he notice the DJIA was down 200 yesterday.

Lets look at what we have had though. Yesterday a huge TRIN of almost 3 with fair volume ( a Pisani buyers strike) and a DJIA decline of about 200 points. Today the DJIA was down in the morning by over 120 points and has made a little comeback. I have no idea if we have seen the lows, but I am fairly confident that Bob will never find exactly what it is he is looking for.