Thursday, May 27, 2010

5/27 - breakfast





  • pullbacks occuring in many stocks....some have pulled back more than a prior resistance and seem to be able to go much higher
  • when looking at SPY, you can see how much higher this relief rally can go...
  • SPY just starting to break 30ema so i think its the start of a bull rally, not the end...worth buying long later if SPY remains above 30ema
  • financials stocks pullback nearing their breakdown necklines...but since some other stocks in tech, etc have broken it, we might actually see these stocks retest their old highs before all is done

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