Rally hits turbulence | stockbee

10/18/2011

Rally hits turbulence


After nine days of big rally from bottom, some sort of correction is natural . As long as the pullback remains shallow, there might still be more upside for the rally attempt.

It seems a bit too obvious bearish setup. Everyone is skeptical of the rally. Investors Intelligence survey bearish readings are at record high. Everyone is itching to short. Obvious things often don't work in the market. We will see how the move progresses.

I would still be buyer of good bullish setups and put out few shorts if good setup shows up. Currently long STAA, LNKD, AAPL.


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