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Play Editor's Note: My market bias is changing. I do think stocks have put in a short-term bottom. I've been looking for a more traditional capitulation sell-off but the Bear Stearns event will have to suffice. The DJIA still has a bearish trendline of lower highs to fight with near 12,500. The S&P 500 has a similar trendline of lower highs near 1,350. While I would now start looking for bullish trades we do not want to chase a 600 plus rebound in the Dow Industrials. Keep your eyes open for a pull back tomorrow to consider new bullish positions. We could see a rally into month end due to window dressing.

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