Equity Markets Move Today

The S&P is up about 2.5% currently. There seems to be an almost frantic move into the equity markets today after yesterdays release of the banking stress tests. Maybe those that have remained on the sidelines are finally dipping a toe in, or diving in. I have opened modest long positions in a few equities over the last couple of months...PM, BTE, EPD, WIN, HD...and made quick round trip trades in those and others. I am up on all my recently opened positions.

But, with the nature of this market and potentially the majority now thinking an "all clear" was sounded by the FED, assuring us no major bank would fail, can this move sustain, or is this the last gasp of a bear market rally. This brings to mind the words of Mark Twain...

Whenever you find you are on the side of the majority, it is time to pause and reflect

I am thinking there's a little more run in this move, and then get the heck out with some profits. Let the majority wrestle for the top.