Market Monitor | stockbee

6/26/2007

Market Monitor

  • While there was lot of drama yesterday, in numbers term it was non event. Lack of major selling , set us up for a rebound.
  • The bears have so many things going for them, but they have been unable to press their bets. 63 stocks down 4% plus is not how major corrections start.
  • There is so much chatter about sub prime lending and derivatives but there is as of yet no major panic selling.
  • The rally leaders continue to hold on to their gain and seasonal factors might kick in to squeeze bears higher.
  • Such market environment is more suitable to tactical short term plays.
  • So many technical analyst watching for neckline break, it might be just a trap and the market might rebound, negating the much watched and anticipated pattern.
  • A strong rebound is the most likely outcome here.

No comments: