TSG – New bull or old bear?

Dear Trader,

TSG Stock Market Letter
Week Ending April 3, 2009
Topics Discussed This Week:

* Rally still going…?
* Leaders lagging
* The new earnings season kicks off
* Case-Shiller implies worst home price declines may be over
* Economic metrics also leveling
* We’re still in sell mode
* Elliott Wave outlook remains bearish

It was another … Dear Trader,

TSG Stock Market Letter
Week Ending April 3, 2009
Topics Discussed This Week:

* Rally still going…?
* Leaders lagging
* The new earnings season kicks off
* Case-Shiller implies worst home price declines may be over
* Economic metrics also leveling
* We’re still in sell mode
* Elliott Wave outlook remains bearish

It was another good week for the bulls. As Dan explained this
week from his Miami home, there is a lot of cash on the
sidelines looking to get into the market. Despite the fact that
we are still bear market, cash doesn’t do much good if it isn’t
working which is why this rally has been so explosive. But the
fact that pundits like Jim Cramer are so confident that a new
bull market has begun is a bearish omen. At true market bottoms,
the majority including the Jim Cramers of the world, have given
up, and this is most certainly not the case now.

So what can we expect this week?

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