Look at it from the other side, the best bounces form hard and fast (V-like reversals), while the stocks that drop quickly but then only consolidate sideways are bottom-fishing traps. Picking bottoms is never easy and when you can lazily buy a stock hovering just above its recent low, you probably don't want to.
You'll see that alot on stocks that gap down 40% or more; they'll fall even further right from the open and then consolidate sideways all day (meanwhile daytraders are averaging down on their prior "early" bottom-fishing attempts); finally, intraday traders capitulate and the stock closes near lows of day.
Always better to either try to anticipate where capitulation will be, or looking to fade the capitulation after it occurs.
You'll see that alot on stocks that gap down 40% or more; they'll fall even further right from the open and then consolidate sideways all day (meanwhile daytraders are averaging down on their prior "early" bottom-fishing attempts); finally, intraday traders capitulate and the stock closes near lows of day.
Always better to either try to anticipate where capitulation will be, or looking to fade the capitulation after it occurs.