Market Charts and Comments 9/13/11

The semiconductor stocks ($SMH) are showing some relative strength today but there is still a likely significant source of supply between 29.50 and 30. It is easy to get caught up in the emotion of quick news driven rallies and while it is possible that the markets are capable of a larger turn to the upside, the odds do not favor such a turn. Open mind and short term strategies remain the preferred approach for now.

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