The bulls are managing a minor bounce here, but they are going to need to do better than this in order for the rally to have any ind of legs. There is quite a big difference in terms of swing trading between playing an oversold name for a quick intraday bounce, versus putting on a high probability multi-day position. Thus far, I am still seeing plenty more of the former than the latter. Although I do believe the market is set to bounce this week, tepid rallies like we are seeing this morning throw a wrench in that whole scenario, as they alleviate the oversold condition without giving the bulls back much initiative at all. In other words, bounces that do not find their legs basically set us up well for lower prices. The good news for bulls is that as the trading session progresses, if the bears do not present themselves then the rally can gain steam as the bulls gain confidence.
need hoes, thanks.
Yah, hero needed, well said!
I had some pretty high expectations for the picture that I was certain would accompany this post….nevertheless, thanks for views 😉
ROFL… it appears everyone was thinking the same thing… he’s deprived this post of the obligatory poker babe!
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I’m not that predictable, assholes.
Hits on future posts will be down 🙂