A Most Beauthiful Sucker's Rally: 7/17/2008

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ByLoSellHi

Wow. Textbook.

Financials will be taken out to the woodshed tomorrow.

This is where all you fast, nimble and non-greedy traders could have made a healthy, fast profit trading around the cones.
 
The simple fact that we rallied doesn't make it a suckers rally before the fact. Let's see how we perform on a retracement over the next couple days and weeks. We could easily rally to 1330/1350 and still qualify for a textbook oversold rally that will collapse under its own weight. It's way too soon to tell.
 
True enough, but MER took the wind out of the financial sails, while GOOG and MSFT back-doored tech.

IBM did beat, though, yet there's no confidence AH.
 
After a vertical 600+ point run off the lows in the last 48 hours a pullback shouldn't be a big surprise. Don't make more out of it than what it is
 
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