Dow surge 6.8%

Dow surged 497 points in todays rally, bank stocks were highlight of todays action. This seems to another exciting bear trap , though we have solid follow up days, but such powerf rally were not seen in previous 34 bull markets since 1900, the advance is too fast , like previous rallies of oct and nov. I will selling my Citi shares in rally for almost 50% profit, i advice to sell the rally and wait for market direction, I may be wrong but bull market has never started such steep rallies. We may seen some selling from here. Bear market tend to be violent and powerful.

Richard Russell, editor of Dow Theory Letters, puts it this way: "In bear markets, corrections against the primary direction tend to arrive without warning and are very rapid, often recovering in a week the bear market damage of a few months. Part of the attraction of a bear market rally [correction] is the speed of the advance. This makes the rally doubly attractive and allows those still in the market the fantasy of recouping their losses in short order."