I am definitely calling this move too soon, but PCP just went parabolic after 2 pm on up volume. Not huge volume, but enough to signal that the bears are covering and leaving the area. We shall see, but protecting that $140 area (where the uptrend line is) was critical and the bounce looks genuine at the moment. It is also positive, considering the negative tape and earnings are due out early next week.I am betting that we go up from here. I will be selling into strength, if it happens however. I am overweight PCP and still need to raise cash.
Let's hope that tech earnings can move the tape positive for tomorrow.
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