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BSNBC
BSNBC
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BSNBC's Blog : Nasdaq oversold and near 50 day. Bounce or not?

Date October 28, 2009    Comments Comments (1)    Recommended (49)   
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will market bounce or slice through 50 day?

many stocks went parabolic and topped out. usually that means a big correction is ahead. so far, not a very good bounce off the 50 day so far. we'll see.

not many good stocks at this level.

http://stockcharts.com/h-sc/ui?s=$COMPQ&p=DAILY&b=5&g=0&id=p84718256638


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Author JoeCole     Date October 28, 2009 11:52 Abuse this post Report Abuse
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My guess is that we pull back to July level somewhere, but it could still bounce here somewhere this week, and if so we would want to see if a new high is reached. I would sell more if we reached a new high.
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