Stocks Show Some Life, as Volume Continues to Fade

April 3, 2008

There is certainly a bullish tint on today’s tape, but the low volume continues to linger. Whether or not you believe we’ve ultimately have bottomed, you can not deny the fact that institutional support here is VERY WEAK. Until there is an indication of institutional support this rally will remain suspect.

I would like to see gains on heavier trade and low vol pull backs. Yesterday we got just that, but up volume days continue to be below the 50dma. This market needs many follow-throughs to confirm the action. This isn’t the time to be fully margined, this ain’t March 2003!

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