Monday, June 15, 2009

No Buying Interest Today

we sold off on very low volume so it's not beneficial to make any conclusions from today's action. I am very interested in tuesday's action as we either see a follow thru selling day or a reversal. Today lacked any buying pressure which was different then recent selloffs where we saw some buying interest come in late in the day to lift stocks off the lows, today we didn't see that which makes me think that the selling might not be done yet. We need to monitor the price action tuesday and see if bounces resemble more like bear flags or something more meaningful.

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