Did you buy today’s dip? If you have my S&P500 newsletter then you would already have the answer to the question of whether you should.

Certainly blogoland is getting pretty nervous as to the duration of this rally. I’ve seen attributions to Bernanke with regard to the sell-off today and his apparent ‘no QE’ stance. Operation Twist is a QE program. The Fed. is already deep in QE territory.

Of course, with the market so extended, any blip is seen as the ‘top’ and the bend-at-the-end, paranoia is ramping up. Oil & gasoline prices are the latest fear that has replaced the Euro crisis for problems to worry about. Add in some weak economic data, and the bears are out in force as far as bad news is concerned.