Fiend's SuperBear Market Report

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* FIEND'S SUPERBEAR MARKET REPORT *

* April 2, 2008 *

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* e-mail: fiendbear@fiendbear.com *

* web address: http://www.fiendbear.com *

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Fiend Commentary

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Bears were probably hoping Tuesday's rally was a April Fool's joke but no

such luck. The rally started early and progressed through the day with the

Dow ending with near 400 point gain. The other averages also raced higher

as optimism that the new quarter will be better than the first dismal

quarter.

The pattern for the past few months has been the same. Heavy selling followed

by a big rally that lasts no more than a few days. Nothing has changed. Sure

there is optimism over the various bailouts and new regulations but such

euphoria won't last against subsequent bad news.

Short term and intermediate momentum have turned positive for the first time

in several months. The Dow is back above its 50 DMA but its problem has been

sustaining rallies. I think that is why we see such big gains. The Bulls only

want to act as a herd when they are in a buying frenzy. If everyone is buying

then it most be ok. Safety in numbers and all that. Over the next week or so

the trick is going to be folks trying to sneak out as more negative data keeps

coming out. Look out for March employment data at the end of the week.

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