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Originally Posted by coolhand

Wow, keep your head down because the "bullets" are flying. The war between the bulls and bears continued today, with the bears drawing first blood, but the bulls fought back to bring price back into positive territory in late afternoon trade.




So far, the bulls appear to be winning the battle over support at the 200 dma to this point, but the tug-of-war may not be over.

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The market bounced back on Friday after Thursday's surprise sell-off. I say surprise because the indices were due for some kind of a pause at the least from the recent relentless rally, but the magnitude of Thursday's decline was unexpected by most. The Dow gained back 477-points on Friday, which sounds really good, but just 25% of Thursday's 1862-point loss. I guess you have to start somewhere, but being that the highs were made near the opening bell on Friday, the action wasn't overly impressive. ...