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Strategies & Market Trends : Classic TA Workplace

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To: Shack who wrote (133541)	6/11/2006 7:01:55 PM
From: The Freep	Read Replies (2) of 209892

I gotta say that I'm kinda surprised at the "we're bouncing here" unanimity around these parts. Yes, we had a high volume day with a reversal, but don't we often see random oddball counter-trend moves during strong trending moves? In shorter time frames, we were oversold... so we bounced. But personally, I don't see anything right now that says this bounce has to continue, even for a brother up in the short term. I mean, even AMGN, which I liked, had a miserable Friday (albeit on blah volume). $TRAN and pals couldn't follow through on reversals. And so on...

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