James "Rev Shark" DePorre
Recent Articles By The Author
Much of the market has already undergone a substantial correction, and there are some signs that the first stocks to correct are now finding some support.
Retail, biotechnology and small-cap bounced, but there is no doubt that market players are skittish.
Focus on positioning for next week. The longer lows hold, the more inclined I am to add.
With the negative action, traders may give up early and find something else to do. Stay patient.
Statistically the odds of a bounce today were extremely high and that is what we are seeing.
Despite the generally poor action there are some signs that some stocks are looking to find support.
The good news is that eventually this action is going to lead to some great opportunities.