Securities Research Services

Wednesday, January 24, 2007

Wary of the Tech Bounce

Buyers took advantage of shorts who were leaning too hard yesterday. This created a turn around Tuesday, which has been quite common lately.

Even so, tech continues to lag so we will be looking at its bounce for an opportunity to short some of its weaker components. The QQQQ could be carving out a head and shoulders top here, so this is something to think about as prices rally.

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