Wednesday, June 30, 2010

Dubious Bounce

This bounce from the open looks fragile.  I would not be sucked in to buying hoping for end of month markups.  Instead, I expect the bounce players to exit in the 2nd half of the day causing chaos and a break of yesterday's lows.  1025 is a possibility near the close today.  I am contemplating a daytrade short here but am nervous to put on shorts at these levels.

P.S. - Cramer seems bullish today.

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