Oil stocks do a little rally and folks come out of the woodwork from down there. We've seen this before. Take care in making sure this isn't one more head fake...an endemic problem for the OSX.
Ron, with all due respect, Luc's record on calling market moves has basically been right on since March or so. He based his opinions on fundamental changes in money flows, earnings, overseas markets, currencies, etc...not on stochastics. No system works forever, as you and many of us who followed your work found out the hard way. Yes Luc may have gone over the edge and lost his perspective, but nothing indicates that yet. Things are playing out EXACTLY as he has suggested they would.
To my personal delight (and stock positions), on a day that one would think the bears would have been buried, the utilities got hammered (PE and PEG), gold has continued to move up (as have most of the stocks), banks and financials were beat up, and we tested 8425 resistance and it beat back the bull run. These are not the kinds of things the would be encouraging to the bull case. Luc's portfolio is smiling too today.
The case of a runaway bull market now, as you are suggesting, does not compute with what we know about the world...especially since AG confirmed our fears with the rushed cut yesterday. The Fed cuts not because the economy is in great shape. The market will soon recognize this.
Good luck,
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