Bulls and bears both continue to hope and pray for some sort of corrective action that, a: will allow shorts to make a somewhat less painful exit, and b: will give underinvested bulls an opportunity to add some exposure into lower prices rather than throw caution to the wind and chase an extremely overbought market.
Despite some red on the screens Monday, investors are still waiting as we hit the midpoint of the week. These extended conditions mean that we need to trade a little tighter and make sure that we walk a fine (and challenging) line between giving positions enough room to move higher but not so much that we see hard-won gains evaporate should bids disappear.
It’s a unique environment right now, and it won’t last forever, but the market continues to offer up good opportunities on a daily basis, and our job is to continue to do the work necessary to bring actionable ideas to our community.
Let’s take a look at some charts:
At the time of this post, RevShark had no positions in any of the stocks mentioned.
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