No need to dance on graves. This was a faux rally, led by big oil and a handful of momentum names.
Today, AAPL and CN were big winners for me.
However, the headline of a late intra-day reversal here may lead to a follow through day tomorrow.
I bought a little FMCN down here, down almost a 10 spot.
Without a doubt, the elimination of the uptick rule has increased volatility.
In short, today was a minor victory for the bulls. There is still much work to be done.
NOTE: “The Woodshedder Bottom, part II?”
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