MysteryTrader's Commentaries
Nov
6
2006
“Oversold” Bounce?
by MysteryTrader
Overall Rating:
The Dow fell six days in a row, and some think that makes the market oversold. Also, some trendline support is close at hand.
I think the June-October rally is over, and I am looking for two-way trading to develop in days ahead.
I expect frequent group rotation. Energy stocks are looking promising on the upside, while tech stocks look vulnerable to price decline—but rotationally, and not an even trend every day.
Tags: economic-events
