redback report. week ended 7/5/2010, page-4

redbacka,

Welcome back!.. and thanks for the recommendation on Turkey.

I agree that everything is oversold but... a gap down and fall tomorrow looks a better than 50/50 bet to me. I don't try to play the intraday at this stage and I'm already positioned short but the slow grind to the high and the speed of the move down since is enough for me to think that the race to the bottom has started in earnest.