Wednesday, January 9, 2008

Are the Piggies ready to bounce?

The Banks have seen severe selling the last couple of weeks. Since nothing goes straight down there's a good chance they are ready to bounce. I'm wondering if they may rally back to resistance. If they do it will take some pressure off the general market. I'll also be watching the Yen. It dropped today at roughly the same time the market rallied. The Yen got quite oversold recently and a pullback would be normal before the rally resumes.