The bulls took another beating last week as they shed between 4 and 7% in the major averages. This puts the sellers in the driver’s seat right now, which means the bears are licking their chops. On the other hand, the bulls have their backs against the wall for the first time since the late-February tank-job, so they have their work cut out for them if they want to regain their edge. It should be quite a showdown if the buyers look to take a stand, as emotions are running high and bears are feeling good for the first time in a while.
It’s a tough time to initiate new shorts after last week’s carnage, but a relief rally could be a short-lived event if bulls become sellers  at higher levels. Be sure to check out this week’s Market View  page over at TheStockBandit.com before you start your trading week for a closer look at the indexes along with more of my comments. We moved to cash last Tuesday morning to let the market correct without us, but once the volatility settles down a bit in the coming days we’ll be looking to catch some great opportunities.
Trade well this week and stick to your plan!
President, The Stock Bandit, Inc.
Swing Trading & Day Trading Service
[tags]Stock Market, Day Trading, Stock Trading, Investing, Swing Trading[/tags]