Another rally should be coming...

This morning, while taking a break from reading my "Valuation" Book, I thought to check today's Investor's Business Daily for the most recent Investors Intelligence Survey numbers. This is what I like to see: the percentage of bullish advisors is declining - and we haven't seen a big decline. If that holds, then we should at least see a re-rally to retest the old highs. One of the things that I believe strongly is that "reversals retest themselves". So, watch for a probable retest, and expect it to be weak (maybe it won't even get to the old high), which could be an opportunity to raise cash or move to more defensive positions. Don't be surprised to see 1245 on the S&P before this happens, but don't be surprised for it to just happen anyways before that happens...