Another bounce coming, maybe a bit more substantial?...
There could be another bounce here, as the support trendlines have been 'just barely' exceeded, with hourly Stochastics turning up...I have watched these trendlines inumerable times tolerate a slight penetration and then force price action back..
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Comment by Steven Vincent on February 6, 2010 at 7:14pm
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Yes I agree we will see a short sharp short covering rally that will end with a renewed decline to lower lows. Just interviewed Andrew and Larry and they concur with this short term view. If you play long on this rally be sure to enter on a pullback and be ready to exit at the first sign of weakness!
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Comment by BullBearGirl on February 6, 2010 at 11:39am
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Thanks Mark. That's what I was hoping since I'm short:-)
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Comment by Mark Lytle on February 6, 2010 at 11:35am
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Hi BullBearGirl,
Just a bounce, I think...The nimble people (day traders and such) might play it....
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Do you think this could be a short term bounce or the beginning of another upward leg in the market?
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