Thursday, March 24, 2011

Bottom or dead cat? Too early to tell but enjoy the move.

What do these all have in common? They broke through their 50SMA, found support on the 100SMA and now are lifting up to go visit the 50SMA. None are technically healthy, yet anyway, but all look like they want higher. If the tech move is for real, we should get some nice clean spots in the near future. If it’s not for real, then the 50SMA should prove to be resistance. Considering the resilience of the market advantage goes to the bulls. $NVLS $QCOM $SPRD $RVBD $SWKS

All look like they want at least to 50SMA and all look like good daytrade shorts on first test of 50SMA