Stock Market Analysis – 07-13-2010
July 13, 2010 at 10:33 pm · Filed Under Broader Market
When does a bounce become a reversal? After you break the previous high. The last downward move was so sharp that despite the run up, we haven’t gotten over the previous mark set at $1130 yet. If you played the bounce and are long on things like BP now, you may want to take some profits or start setting trailing stops. I still like the bearish setups that are presenting themselves now, so keep screening for them. And if you’re on the sidelines, keep an eye on your favorite bullish candidates in case there’s a full rebound confirmation.
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