After yesterday's massive reversal to the upside at the close, many of the investors and traders will ask if this is the short term bottom. In my humble opinion, this is the short term dead cat bounce. Why? I think there are several reasons:
1. no new leaders have emerged from the wreckage yet;
2. the recent low maybe tested again;
3. no end to the recession fear;
4. price of oil is still high;
5. solar stocks are looking down today (used to be the darling from last year);
6. (EBAY) and (AAPL) reported disappointing forecast.
I would hold off buying for now.
No comments:
Post a Comment