Daniel J. Zanger is a technical stock anaylist and equities trader. Having turned $10,775 into $18 million between June 1998 and December 1999,he is the world record holder for the largest percent change for a personal portfolio for a 12-month period of time and an 18-month period of time in the history of the stock market. This success brought him coverage from Fortune,Forbes , and Stocks & Commodities Magazines
After yesterday’s massive 326 point plunge the market and stocks could barely lift back up in a very feeble snapback rally from deeply oversold levels. One feeble up day does make a reversal of yesterday’s plunge so there might be more selling in store for us in a week or two.
My short term trading oscillator is moving up from deeply oversold levels. The norm for this tool after being down so low is to work its way back up to the neutral line which could take another few weeks.