Contrarians tell us that when everybody piles on to one side of a trade it is time to go the other way. The “boat” of the market listed way to the bearish side yesterday morning and it was no wonder – the news was absolutely horrible. Intel troubles, GM failing, economy faltering, credit crisis, bailouts, housing crisis, worse than expected retail sales, worse than expected job losses, and on and /br /Stocks undercut their October lows and it looked like the bottom had fallen /br /Yet in the early afternoon things suddenly turned around. Off the races! Was it short covering? A rebound after running stops?br /br /Look at this screen capture from from this morning’s newsletter. You’ll prbably have to click it to read the little /br /a onblur=”try {parent.deselectBloggerImageGracefully();} catch(e) {}” href=””img style=”margin: 0px auto 10px; display: block; text-align: center; cursor: pointer; width: 320px; height: 186px;” src=”” alt=”” id=”BLOGGER_PHOTO_ID_5268541155107715218″ border=”0″ //abr /I did not circle everything as I did in the newsletter but if you have a moment and some strong reading glasses peruse the entire page. Every single bit of news was bad except for the headline. Everything. OMG, the end of civilization as we know /br /And then the Dow rallies 900 /br /When everybody is on one side of the boat, go to the other side. It is a lot drier and you can see better, too.