I didn't participate in the move at all today, the market made quite an impressive comeback from the 3 down days, and I was not quite ready for that type of move. However the stocks that I was watching really didn't offer any good swing trade type entries, and I hated the volume on any bullish moves.
Where did all the volume go?
I have a feeling that we are pretty close to forming a short to mid term high soon, and that will be my bias until I see volume return to these bull days. My understanding is that volume precedes price, and if today's lackluster volume continues we will see the market roll south once more.
However the relentless uptrend hasn't been bucket quite yet, and is the standing trend until proven otherwise. Some stocks that I will be watching for swing entries in the next few days are BGZ (large cap bear 3x), VXX (VIX ETF), however I may play a quick trade on the bullish side since this run up hasn't exhausted itself completely...
Monday, September 28, 2009
Subscribe to:
Post Comments (Atom)
1 comment:
Thanks Carl, I should do a quick Google search for holidays when there is unexplained low volume.
Happy Yom Kippur.
Post a Comment