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.
There’s no substitute for a trading floor to get great ideas, so Jim Cramer created a better one at Real Money and blogs there exclusively. We then added legendary hedge fund manager, Doug Kass, with his exclusive Daily Diary and best investing ideas. Staffed with more than 4 dozen investing pros, money managers, journalists and analysts, Real Money Pro gives you a flood of opinions, analysis and actionable trading advice found nowhere else, and allows you to interact directly with each expert.
Already a Subscriber? Please login.