It Is Great To See Some Positive Price Action; Where Was The Volume?

October 30, 2008

I think it best to keep this simple because a low volume rally is not a rally that should have anyone excited. No, instead we should start to pray for volume or else our new long that was up over 10% today will not be going up much more. I am having a severe MS flare-up and since there were no new positions I think I will keep this short and sweet. YOU ALREADY KNOW WHAT IS THE RIGHT MOVE RIGHT NOW! Don’t act like being long is all of a sudden right when it was very wrong for the past twelve months. It is going to take more than a week to fix the wreck that we have been handed. Let’s hope for a lower volume pullback followed by higher volume rallies or else we will just have to continue to fight on the short side. The good news is we have longs that are working and we have shorts that have worked and a TON are still well below their key moving averages that support healthy uptrends.

Posted by Joshua Hayes | Filed Under Market Commentary