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For much of the last week, it looked like a pretty nice bounce back for the bulls after last week’s losses. I watched this action with particular dismay as the bearish financial news of the week simply did not support any bullish sentiment whatsoever.

Of particular note was the latest news on the inflation front indicating not only that inflation was heading back up again after some months of respite but was also likely to lock in for the longer term – something that yours truly has been warning about for some time.

If you play the short side of the market in times like these – I don’t recommend it for most folks because market movements happen far more quickly on the short side and it is far easier to get burned – you have to have steely resolve when you see bullish moves like those in the earlier part of last week to hold onto your convictions.

On Friday, however, the short side got redemption.  LISTEN FOR THE REST OF THE STORY