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Oversold Bounce - May 28 2008 11:51AM

 May 28, 2008 11:51 AM

The market started the week with a weak oversold bounce. This action was more than expected and could still have legs, above all if the Oil drops again. But the very light volume was the mirror of the crowd. There are still few strong charts on the long side, that could outperform in the very short-term.
Here an interesting chart:
Walter Industries Inc.(WLT)

rallied to new all-time high four bars ago. The stock is moving sideways in a symmetrical triangle since then and could resume its uptrend soon.

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