Bright man read the newspaper, see analyst report, study the fundamental, they feel that the economic data is very bad, unemployment rate keep going up, swine flu etc... So their conclusion is that it is not the real rally, the rally will not last, some even say that it is a bear market rebound, unsustainable. So the bright man do not buy in, what's worse is that some even short the market.
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Disclaimer:
My posts are solely for discussion purposes and it is not trade recommendation.