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Even the Bulls Want a Pullback Now

James "Rev Shark" DePorre

It has been a substantial rally and has many market players feeling relieved, although we only have recouped losses back to around Dec. 17. Despite this recent strength there were only 45 stocks hitting new 12-month highs on Tuesday, which is good illustration of how much damage has been done since the top was hit around the first of October. The longer this rally lasts, the more comfortable market players are that the worst is over.