Oversold
Posted on Monday, June 9th, 2008 | In Current Market News, Stocks to Watch
Contributed by: Brian Shannon (http://alphatrends.blogspot.com) -
Is a word that a lot of people mention when the market drops quickly, it is a term that has come to mean “down so much it has to bounce”. Of course that statement is only based on opinion which doesn’t help us very much. The market was deeply wounded on Friday and the futures are indicating an early bounce, how far a bounce takes the market is anyones guess, but the most likely level of resistance will be found between 137.00 and 137.50. I am skeptical that a rally will develop into anything more than a bounce, but I will trade what I observe and go slow. A strong defense is critical during uncertain times.
Last 5 posts by Brian Shannon
- Stock Market Video Trend Analysis 3/9/09 - March 9th, 2009
- Stock Market Video Trend Analysis 2/6/09 - February 6th, 2009
- Stock Market Video Trend Analysis 2/5/09 - February 5th, 2009
- Stock Market Video Trend Analysis 2/3/09 - February 3rd, 2009
- Stock Market Video Trend Analysis 2/2/09 - February 2nd, 2009
 About Brian Shannon (http://alphatrends.blogspot.com)
Brian Shannon is a full time trader who shares his market experiences on the highly popular alphatrends.blogspot.com site. Alpha trends has been called "the youtube of technical analysis" by Technical Analysis of Stocks & Commodities Magazine (March 2007) and has been praised in Barron's (October 23, 2006) and Active Trader Magazine (July 2007). Brian trades an account at www.worldcupadvisor.com since March 2006 and in that time has more than tripled the results of the S&P 500. He can be reached at alphatrends@gmail.com |
No recommendations, either expressed or implied, are being made to buy, sell, hold or short any of the mentioned stocks. No legal, tax or accounting advice is expressed or implied. Always contact your attorney, CPA, or tax advisor before acting on any legal or tax issues. StraightStocks.com is not responsible for the content, products, or services of any of the advertisers on this site. StraightStocks.com receives compensation from advertisers on this blog. Services and products referred to herein are trademarks, registered trademarks, servicemarks, and/or registered servicemarks of their respective trademark or servicemark owners.