daytrading may 21 afternoon, page-80

Have bought a few smashed up mid-caps this afternoon for the week ahead because I believe that there is a bounce to be seen in our markets over the next 2-3 days. Yes, the weekly chart looks a dog, but we have to respect the daily levels as well, and the stochastics are vastly oversold.

LNC in particular has caught my eye. It has picked up support from a 2008 trading range, and it really is due a bit of a recovery after 19 red days in a row. Weekly and daily stochastics look good to me and suggest that selling has climaxed.