Not If But When

This market is surprising us with another monster gap up coming out of nowhere, mainly due to expectations of a Greece bailout.  That is what is soothing markets today.   Is it buy the rumor, sell the news?  I don't even think traders are patient enough to wait for the news, they will likely jet on their long positions as soon as they get a little profit.  Until we get a big washout, I don't think we'll have any sustained strength.  Markets that don't bounce back quickly from oversold conditions are weak markets.  Today, I expect us to falter from this gap up, so I remain bearish, and will hang on tight till I see the white of their eyes.