Bear Market Rally Over?

clipped from news.yahoo.com Stocks tumbled more than 2 percent on Thursday after a report showing yet another drop in U.S. home sales prompted investors to take profits in financial shares, which had rallied over the past week. The Dow fell the most in a month, as the rising price of oil compounded worries about the economy. The jump in crude spurred unease that the recent sharp declines may have run their course. Shares of companies particularly vulnerable to higher fuel costs, such as airlines and retailers, sank. "The bailout plan restored enough confidence in the sector to take some pressure off the stocks, but the pretty nice bounce we saw seems to have run its course," said Eric Kuby, chief investment officer at North Star Investment Management Corp in Chicago.

The big question folks will be asking tonight is whether or not today's market action was the end of a bull market rally or just profit taking after a big move in the stock market the past week. Has the trend changed or was the past week just a pause in the bear market? Or, is this just a pause in the early stages of a rally?

I remain 100% long.