This "stance" has led us to some pain over the past few trading days, although our Short-term models helped to reduce the losses to some degree. The Shorter-term systems follow the tape and had to turn bearish as the market declined on some of the recent volatile days.
While some people are surprised that we remain bullish, some contrarian investors like the fact that people are very emotional these days. With so many people predicting a large decline, it means that the markets are "balanced" a bit. It means that we can "climb this wall of worry" perhaps a bit more...
Emotions are very difficult -- and the reason we like to use systematic trading systems for our investments and trading approach. For now, we will continue to follow our bullish indicators -- AND we will alert our readers (at least via Twitter; but often with a Twitter and blog post) when the Overbought/Oversold indicators turn to neutral or bearish.
Today's opening "gap up" has us getting ready to enter more bullish positions after a typical "gap fade" decline.