Bear market rally (IMO). This thing could actually rally the S&P 500 all the way back to around 140. It may not be straight up, but once it gets there, look out below. I've made a small bet that this is precisely how it will play out. Makes it fun to watch, anyway.
You guys that can time the market are a hell of a lot smarter than me. All I know is buying JPM a week or so ago when they announced earnings for 39.40 feels real nice today when the stock traded at $45.50. I bet Buffett is also feeling pretty good about the buys he recently made.
Candidly, no, DoubleD. There are always going to be groups or sectors that outperform, in bull markets and bear markets. The fact that groups like beaten down retail have done relatively well that past few days doesn't change my thought process, particularly when energy and commodities are getting battered. THey may continue to do well, for a time. But I believe that more bad news is laying in wait, and eventually nearly everything will be taken down well below today's prices.