By Jeff Pierce

The markets bounced off the lows today and after much selling on Friday and Monday morning it appears we could be in for a short term bounce in the markets. It doesn’t necessarily have to happen so I wouldn’t be a buyer trying to profit from an upswing, but if you have shorts it could be a good idea to cover or at least lighten up on the short side.

The area between today’s low and mid-April’s low is going to be the battlefield for the foreseeable future between those bullish & bearish. If that level can hold then we shall indeed bounce. The way I see it we’re either going up and down or just straight down so it’s still wise to use any bounces to get short again.


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