Volume Not Following the Rally
March 12, 2008 | Leave a Comment
Volume is running lower than yesterday’s, @ 1:07pm EST pace. Ideally, accumulation will immediately begin after the first day of an attempted rally. At the moment this market is a complete bore! It would have been nice to see volume racing higher today to begin the bottoming process.
We aren’t seeing our bottom. Why? Look at some of these numbers:
New Highs (today): 46
New Lows (today): 202
VIX: 26.02
VXN: 28.80
New Highs continue to be dominated by New Lows and VIX and VXN continue to show the lack of fear at the recent lows. During market bottoms we’d see VIX and VXN race higher with New Highs crushing New Lows. We aren’t at the point yet.
Cash is King
BWT Launches BWT.net
March 12, 2008 | Leave a Comment
The admin team from BigWaveTrading.com is pleased to announce the launch of BigWaveTrading.net where Joshua Hayes and Market Speculator will be posting regular commentary on the market. Check in regularly to say updated on the market, post comments and get involved, subscribe to the RSS feed to get updates (http://www.bigwavetrading.net/feed/), and share your thoughts.
We love to hear from you. If you’d like to share feel free you thoughts on the site via the “Contact” forum at the top of the BigWaveTrading.com or BigWaveTrading.net pages.
Can’t wait to see you at http://www.bigwavetrading.net,
Your BWT Admin Team
FOMC Injects the Market with Cash
March 11, 2008 | Leave a Comment
Here we go, Helicopter Ben Bernanke floods the market with more liquidity. I can not fathom how you can inject a poor market with more cash. This will simply prolong the downtrend, not too mention the flow of liquidity will find its way into commodities.
This move today will not change the overall downtrend, we may be getting our oversold bounce today. Bear markets will produce snapbacks like what we are seeing this morning. It doesn’t matter if it is short covering or small buying interest. What matters is the overall downtrend and we can not disrespect the trend.
Market Speculator
