An Unimpressive Bounce
The market was due for an oversold bounce following two days of selling, but it isn't very energetic so far. The action is well off the early highs and there doesn't seem to be much chasing. Google (GOOG), Apple (AAPL) and Amazon (AMZN), which you would expect to attract some interest from folks who want to buy the dip, aren't doing much.
Breadth is solid with chips leading due to Hewlett-Packard (HPQ) earnings. Biotechnology is also doing well, while precious metals and energy are lagging. The momentum scans turn up Aruba Networks (ARUN), Sourcefire (FIRE), WebMD (WBMD) and Chef's Warehouse (CHEF) but it's a mixed bag and I wouldn't be surprised to see some flipping....96 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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