For those interested in playing the anticipated bounce here are a few ideas.
EWI - an Italy ETF. This would definitely be a contrarian play, but the daily technicals look nice for a rebound.
I made a couple small purchases today in AKS (stop @ 13.00) and MYL (stop @ 18.70). I like the technical analysis and candlesticks on AKS and the steel sector is pretty oversold. SLX is a steel sector ETF also.
MYL is a biotech stock which I picked up on a screen for stocks with high short-interest (25% of float). After sharp declines stocks with high short-interest often make nice short-covering rallies.
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