The Black Box

[mjk]

If we're going to turn, it should be from around today's low. A little while ago, I almost convinced myself we're still going to new highs on the Nas, then went back to thinking the 2120 area.

I guess the worst case is, we continue to fall, through the 50 day and support near 2000, get the 100day, then rally hard back above 2000...and that wouldn't be that bad so I'm not worried at all. But since we're already pretty oversold here, I'd lean towards getting a bounce.

I'm not looking for much today actually, so I'd like to see if tomorrow we first approach 2020 and the 50 day. For some reason, I really like MSFT right here and it's making me think we bounce harder than anyone else might be thinking.