Whole Lotta Ugly Goin' On
An Apple-led (AAPL) bounce is taking the market up to opening levels, but there is still a whole lot of ugly. Breadth has improved and there's actually some green in the semiconductor sector, but there is a big supply of broken and downtrending stocks and even the dip-buyers are looking for little more than quick flips.
If you are holding long positions, a day like this can cause great misery, but if you are a trend trader and you stayed out of the way, it should create optimism. This is the sort of reset needed periodically to create a new crop of opportunities. I don't worry about the timing, but support will be found eventually, a new base will be built and a new uptrend will start. If we are ready mentally and financially, we'll be able to do very well....154 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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