MysteryTrader's Commentaries
Nov
16
2006
Downside Reversal Due
by MysteryTrader
Overall Rating:
4 up days in a row makes stocks overbought. This buying wave looks to be about over. Day trading momentum already turned down on Wednesday afternoon.
A 2 or 3 day pullback seems due. Look to short on modest intraday rallies.
I could be a day early. But some long liquidation would be normal before the weekend at least.
Tags: economic-events
