Down, but no Correction

The most notable aspect of the market this past week wasn't that the major indices lost around 1% but that there continued to be pockets of aggressive speculation. While the big-picture bears moan about slow summer trading, the momentum bulls chased stocks with strong price action, Tesla (TSLA), Priceline (PCLN), LightInTheBox (LITB) and Qihoo 360 (QIHU). A number of good earnings reports gave the bulls opportunities.

While there was good action, it was narrower. The big question next week will be whether the end of earnings season combined with peak vacation time and little economic news will put buyers on the sidelines. We all know that it isn't a good idea to short a dull market, but when we've had the sort of run we've had this year, it shouldn't be surprising if the action drifts lower during a slow period....819 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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