Last week we saw some manic style trading and it was hard to find footing and make money. We highlighted some levels that needed to hold for us to avoid a retracement, and those levels have been threatened. Today, we will look for a possible trade down to the 50-day moving average for a possible small bounce. Pay close attention to yesterday's lows. BIDU was a great long trade yesterday after trading 80 points lower after earnings. GS is a stock that has been very strong during the rally and has churned lower in this slight retracement post earnings. People will almost certainly look to get involved in Goldman if the market can hold the 50-day moving average. We are very excited about GS today. AIG is another oversold stock that could see a bounce if the market holds. Things should loosen up today a little bit, so be opportunistic.
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