Market closes strong–bounce? RDY

While the market closed strong on Tuesday, it has a long way to go to change to an up-trend.  Every bounce must be met with skepticism until it proves itself. I remain in cash, GLD and short in my IRA.  (I have not yet moved from mutual funds to the money market fund in my university pension, however, primarily because of limits they have on trading to time the market.)

By the way, a stock that hit another new all-time high on Tuesday is RDY, a drug manufacturer in India.  This  stock should be added to our watch list for possible purchase when the market trend turns up.

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