Is the bottom in?

Hi traders, markets have been rising for the past 3 weeks in a row, trimming the year's losses by quite a bit. Just in early March, the majority of people were all doom & gloom and talking about how low stocks will continue to fall. Well, after a consecutive fall of the markets so many weeks in a row, it was certain we would get a rally really soon.

The question is "Is the worst over?" Have stocks formed a bottom and will they go all the way up from here? Is it time to buy now?

In my opinion, the economy is still in shambles and financial institutions are still not out of the woods yet. I do not see how Mr Bernanke can say that we will have a recovery in the second half of the year. Unemployment will continue to soar above 10% in the United States and consumers will not have the money to purchase goods. Having said that, we've had an impressive rally in the stock market for a few weeks now. Where do we go from here? I expect a pull back in the markets next week before it continues to trade in a range for the following weeks. I think that this is a bear market rally and we'll have another drastic market fall sometime in May-June.

Based on this expectation, I am looking to purchase the 2x bear financial ETF, SKF and the 3x bear financial ETF, FAZ in the near future as these ETFs will soar when markets come crashing down again.

As of now, the price of SKF and FAZ are $94.99 and $19.95. Let's check back in May-June period to see if I'm right. Good luck traders!

Disclaimer: All investment opinion should be treated as such and not be construed as financial advice. I will not be liable for any loss including but not limited to direct, indirect, incidental, special or consequential damages caused by using the information, or as a result of the risks inherent in the stock market. Always do your own research before investing/trading in a stock.