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| 2010-03-09 01:21 |
SLOW WALK TO FINISH LINE
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The lack of volume speaks volumes, but what is it saying? Volume is used as a measure of conviction but the fact is that this
magnificent rally has occurred on a complete lack of conviction. It doesn't mean the rally is smoke and mirrors, and it doesn't change the great
fortunes of those that have participated. But I wouldn't argue with anyone that says the rally is suspect. This rally is suspect, and that is where
the volume comes in as a measuring tool. The economy continues to slump as the powers that be don't appear to have a clue. At the end of recent
recessions the stock market continued to falter and the recoveries occurred at a faster pace back then. In addition to punk job growth the chorus for
massive declines in commercial real estate grows each day.
Of course, the market is forward looking, and because things are so
awful and have dragged on so long I think we could see more and more people pull the trigger. I say go with the flow and stop trying to pick the
bottom or wait for a dip or the next election, etc. I guess the thing about this market is the lack of oomph continues to mask a slow (and at times
not so slow) march higher.
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Disclaimer: Securities Operations Forum is providing this research to assist investors in determining when to buy and when to sell. All investment decisions are yours and as a result you could make or lose money. Securities Operations Forum, its employees and/or its affiliates and family members may from time to time take positions in the open market or otherwise with respect to the securities discussed, but not have stock ownership equal to or greater than 1% of the outstanding stock of the covered company nor does any employee of Securities Operations Forum sit on the Board of Directors of any covered company. The statements made herein include information obtained from sources believed to be reliable, but no independent verification has been made and we do not guarantee its accuracy or completeness. The statements made herein contain general information and do not constitute an offer to buy or sell any security. |
