Thursday, July 28, 2011

7/28 - bearish (sell stop)








News:
  • some huge movers especially Green Mountain Coffee with more outperfomances in earnings announcements
  • market strong, then mid day reversal that accelerated into the close
  • debt ceiling still all the talk...GOP version expected to be rejected later tonight in the house
based on everything, we are still bearish but stops need to be tight as a reversal is definitely in the cards. bulls are waiting for good news to stomp out the bears and to take advantage of the oversold conditions but bears remain strong as nothing changes with the news...

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