Market Monitor

August 8, 2007

  • There are lot of encouraging signs. back to back 300 plus days on 4% breakout indicate buyers as well as short sellers active in the market. Part of the move looks like short squeeze, part of it bargain hunting.
  • Volatility is a big problem, but if this positive trend continues, it should subside in few weeks.
  • For aggressive traders going long here is not a problem. For more cautious traders another few days would offer clearer picture.
  • Overall the process of bottom formation has started and there are lot of stocks bolting out of gate. The Episodic Pivot list had so many good buy opportunities yesterday.
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