Dow Jones on Life Support

The Dow was able to put up a good fight yesterday with a 400+ point rally.  And today the bulls were not ready to give back any of the gains.  So, where do we go from here?  There are a number of people out there including Loud Dobbs who are ready to say that there is no need for a bailout because the market had one good day.  Well in my opinion, a one day bounce does not equate to the start of a new bull market.  Right now the Dow is resting on the 50% retracement from the March lows.  It is a bit presumptious for anyone to make a call of which way the market will go over the next couple of weeks.  In my opinion odds are we go lowere before we go higher.  Everyone out there wants the Hollywood happy ending for the market where Congress approves the bailout, stocks rally, and no one will put on any new short positions.  Seems a bit too cut and dry for me.  Let us not forget that tomorrow the ban on short selling will be lifted on the 800+ financial stocks.  Stay tuned....