Morning folks futures gapping down again today. 3rd day in a row. As we talked about in our weekend market review that we do everyweek. What we wanted to see is follow through and confirmation that this dip was real. Something that goes beyond 1 down day that has follow through and starts to break key levels of support.
We are getting close to a good bounce area. The Nasdaq on the other hand looks is right on the 50day moving average and could break thorugh today. might not be the worst thing as it will definatley blow out a lot of stops. We are at that place now where it is to late to be adding shorts for swings…for daytrades yes its still in play but its time to start looking at some good bounce plays
lets lookat acouple oil plays first in case the run continues all day
bpz looks decent bounce off support, qbc looks good, cfw super cheap here should follow
looking at mcz too
also check IO and and SSN both are trailing just waiting to breakout. Brnc also