The dip buyers did a nice job today as they battled back from the Ireland bailout/FBI raid of 2 hedge funds and a break below recent lows at mid-day. The action indicates that there is strong appetite for risk, especially the liquid, high-beta tech names. HPQ earning after the close is being received well initially. The bulls are certainly acting like they want to celebrate the short week of trading as we move into the strong part of the Thanksgiving week. That said the bounce seemed to be stalled at the 50% retrace level from the last decline and the bad news continue to pile up.
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