Zeev's Turnips Patch-No Politics (ZEEV)

[mike_m]

The thing that bothers me most about your contention that this is a bear market rally is that in many respects it does not resemble a bear rally. Typically a bear rally is sharp and shows high volume at the outset. As the rally extends the volume diminishes. Bear rallies lack leadership as new high lists tend to be limited to defensive stocks and fail to expand significantly.

This rally began climbing a wall of worry and did so from pathetic volume. It has gained rather than lost steam and is demonstrating more new highs than it did so back in January yet hasn't reached that peak. Moreover, bear market rallies end as quickly as they begin by turning on a dime and succumbing to an inexorable grinding down...The SARS and economic news should be weighing on this market yet doesn't seem to...

It simply isn't acting like a typical bear market rally...