Do not trust yesterdays rally

Yesterday the Fed broughtt he big dope ship into harbor again and lowered rates by 3/4 of a point after having already lowered them 1/4 of a point on Sunday. The junkies threw a party, but the problem is that fewer and fewer of them are actually showing up at the party. The market had its largest up day in several years yesterday, yet Nasdaq volume was about 2% under Monday's levels, while NYSE volume shrunk by over 5%. Hardly the type of action I'd like to see on a rally. Not only that, but there are still far more stocks in bearish patterns and showing relative weakness than there are stocks showing relative strength. Look at names such as DELL, CREE, BIDU..the list could go on and on. The clear leadership in this market remains to the downside, and as such heavy investments in cash and some small short positions remains the best course of action IMHO.