Oversold Bounce

You've got to say one thing about this market - it sure isn't boring. The bears are getting squeezed a little and/or are taking a few of their nice profits off the table. For now, this looks and smells like an oversold bounce. Powerful and strong, but not a sign that the worst is completely behind us.

Like usual, I find it of interest to see where the leadership groups are (i.e. real-estate, investment services, steel, basic materials, chips, steel, precious metals, machinery, energy, chemicals, etc.) Likewise, I'm seeing a number of reversals within my watchlists - see stocks like FTGX, TSTC, ROCM, RICK, and CRNT just to name a handful.