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Oversold Tape Gets Reason to Rise

By Jim Cramer

 About this article:
 We came in and we were too oversold to stay down. We were looking for reasons to go higher and we seized on a decline in oil. What's really going on is that we are still very oversold and we have too few bulls; also, we are in expiration week, where we already had our down days. These are all technical concerns, but they can at times totally trump things like bad earnings from FedEx or worries about the consumer or oil or your home and dividends. There's way too much negativity here because there's no reason to be positive. It's true. But when everyone is negative, you know that not everyone can be right. We have had relentless selling for instance in the drug and weapons stocks since the Obama coronation. But that's fading and I suspect we are going to start seeing polls showing that McCain...

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