Testing the Metals
Other than Apple (AAPL), the bounce buyers are unable to generate much upside. The market is slowly sliding down and breadth has now slipped to 2,300 gainers to 3,000 decliners. We aren't seeing a rush for the exits like Friday, but there's very little buying interest. There doesn't seem to be much worry that this market is going to bounce back and run away.
In this sort of environment, I'm going respect the downtrend but try to find a few fast trades to put some money in the bank. I'm not worried about when the market will hit bottom. In fact, it makes me more optimistic the longer this goes. We need this type of action periodically to shake things up and create new opportunities. The process can be painful if you don't move out of the way, but ultimately we'll be better for it....146 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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