Thursday, June 9, 2011

Expect a bounce

Make no mistake, the momentum lies clearly with the bears right now. That said, the market is way into oversold territory and I am expecting a bounce here. If you wanna play this bounce by going long, be sure to honor your stops and don't get too greedy. Even if we bounce really hard the next couple of days, remember a lot of technical damage has been done to charts during the last few days. Again, the bears are in control at the moment. Respect that. Now that the "warnings" are out of the way, here are some long plays :). All these stocks showed nice price action today on impressive volume.

Take care and good luck!

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