| Weekly Trend: | __ | Down |
| Daily Trend: | Down | |
| Daily Momentum: | Down |
Yesterdays action was a little concerning as we wanted to see immediate follow through from Fridays reversal. We got the follow through today but it needs to stay the course for a week or two. I sort stocks into bearish and bullish folders based on a predefined scan I use. Interestingly enough many in the bearish folder closed very weak last night even with the background strength. The trends are all down so any counter trend trade is considered aggressive so don’t get too carried away with upside follow through. We continue to look at this coming bounce as a selling opportunity.
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Wed, Feb 10, 2010
US Commentary