It is never good to have a solid day that has so many people feeling contempt on higher prices reverse hard and show investors losses. But that is what we got today. Nothing short of the word disappointing can describe today’s price action. The reversal intraday of the good price action was a major disappointment to investors across the board.

However, if you are me, you actually welcome it because you know it promotes disgust which will eventually lead us, if not to a new bull market, at least a strong bounce. However, the even better news is that the one stock that I have been promoting for weeks to my paid subscribers in the platinum chat room was up over 3.5% today. That is a nice divergence and continues its nice path of beating the market. This is not the only long like this. I am also long a swath of medical stocks that are doing well. Including one stock that has setup in a POTENTIAL (nothing is for EVER for sure) powerful bullish pattern that could make us subscribers even more money in this nasty market.

I am hearing so many unsuccessful stories about this market from players on message boards and free chat rooms that I wonder why people can not just stop trading. It is so simple to just wait for a bull market. If you are unhealthy, use this time to go to the gym and get a book on tape of some of the books I recommended last night or have in my book section. If not that, take the time to go to the gym and read IBD. Whatever you do, do not force yourself to watch this market intraday unless you must. We have quite a few professionals in my chat room that can handle watching the market go from euphoria back down to reality and sometimes the other way where a bad day turns into an incredibly bullish day. We can watch this without having the prices effect us. But too many of you live and die by the latest tick. That is a sure way to the nut house in this market environment.

Some positives that have me believing we could be NEAR the lows of the current downtrend is the action in MER. Two sessions ago MER had a huge intraday bullish hammer reversal on HUGE volume and max green BOP. The volume was the highest ever and came AFTER a 75% decline. This usually tells me that the selling is washed out and that this stock was accumulated heavily with the max green BOP and huge volume surge. However, like I have said my entire life, nothing is for sure. If MER can not hold on to the 22 support, I have little conviction that this market will rally any time soon. However, if 22 can hold for a while, my faith in a more positive market to work with it will increase.

Some are really worried about the upcoming job numbers but I am telling you that all this stuff is pure noise. Do not fall into the trap of realmoney.com or CNBC and start jockying for a heads-up on the GDP report or the upcoming jobs numbers. All of this is noise to your actual index charts. Pay attention to the way they are acting.