the overall market might be due some sort of bounce. its been...

the overall market might be due some sort of bounce. its been endless selling for weeks now with zip bounce. the financial stocks are showing signs of support and short covering. i have been looking for that in the face of endless selling to point to a short term bottom. the market is very short in many stocks at the moment. MAP had a nice bounce off $2 and given MQG have bought even more MIG, the chances of a bounce get better imo. If MQG move towards 19% of MIG, then the shorts may race to cover for the fear of the bank making a full bid. The company will also step into the market to buy stock for the dividend plan as well. This is like a buy back. I think it could bounce from here somewhere in the short term. The downside seems to be some what limited now imo.time will tell. good luck.