A Step Back Looks Likely
Apparently it's not just the central banks that are killing the bears. I read in The New York Times Friday that this summer's drought is trying to kill them, too -- the animal, not the traders. It seems the lack of food from the drought has forced bears to resort to drastic measures by breaking into homes and restaurants around the country in search of food.
From the looks of stock-market volume in anything related to China Friday, it seems the bears on these stocks had to resort to drastic measures, too, by running to cover shorts. Heck, when I said Thursday that I thought Select Sector Industrial Select Sector SPDR Fund (XLI) would rise, I never expected the rally it actually underwent. Throughout August, the rallies had been rather pathetic in oversold groups, but Thursday and Friday brought substantial volume in individual stock climbs....471 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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