Beware of a Failed Bounce
The indices did a very nice job of building on Friday's intraday reversal, but it was much easier to be a seller than a buyer. Many folks who jumped in on weakness last week were using the strength today to lock in good gains, but it was a challenge to put additional money to work. The major comments I heard today were complaints about filling too fast, particularly Apple (AAPL).
What made it even more challenging was that after the first hour of trading, there was very little movement. AAPL continued to run and breadth was extremely strong, but there weren't many gains if you weren't already in the market this morning....270 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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