I'm not convinced that this bounce is anything more than a relief rally. Breadth indicators like the hi/low are not showing board participation. I am using the bounce to initiate some short positions.
Wednesday, April 9, 2014
April 9, 2014, Bounce continues
Two days ago I suggested that a reversal of selling was likely . I bought some FB and GTAT for quick trades. The bounce has continued. Through today and picked up some momentum after Fed Minutes. Nasdaq was + 70.91
I'm not convinced that this bounce is anything more than a relief rally. Breadth indicators like the hi/low are not showing board participation. I am using the bounce to initiate some short positions.
I'm not convinced that this bounce is anything more than a relief rally. Breadth indicators like the hi/low are not showing board participation. I am using the bounce to initiate some short positions.
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