This week’s Free Newsletter  over at TheStockBandit.com discusses the topic of Gauging Oversold Conditions. Just because a bounce is needed doesn’t mean that one is imminent, particularly a lasting one.
This market is getting short-term oversold, but there will be ample supply overhead (thanks to trapped longs) which could keep trades on the long side very tricky for the next little while. This is a great time to exercise more caution than usual even though this pullback is already somewhat extended, so stop by and check out this week’s free newsletter for some additional thoughts on the topic.
By the way, you can sign up for the free newsletter on the Free Newsletter page  at TheStockBandit.com. An opt-in form is provided at the top of the page which puts you in full control of your email subscription at all times.
Trade well this week!
President, The Stock Bandit, Inc.
[tags]Stock Market, Day Trading, Stock Trading, Investing, Swing Trading[/tags]