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IBDvalueinvestin (99.67)

Short-term Oversold? Market is acting like it

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August 24, 2010 – Comments (0)

has been oversold short-term because after the gap down on housing numbers. The market is rebounding quickly. That leads me to believe that the Smart-Money all loaded up on shorts or puts  together yesterday when the market opened up Green.

Now they are taking those profits.

Would not be surprised if market gets close to turning green by end of the day.

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