Online Stock Trading | Stocks move higher as volume remains enemic

Stocks move higher as volume remains enemic


Filed Under Market Commentary |

Stocks rose across the board but on relatively light volume. NASDAQ volume rose slightly as the NYSE volume fell. Although higher volume on the NASDAQ it was far from impressive. Accumulation days are lacking, today counts for on the NASDAQ but I’d like to see volume greater than 10% than the previous day to get excited. It seems there is a lack of buying interest across the board.

Dow 12,288.10 +61.93 (0.51%)
Nasdaq 2,408.21 +13.80 (0.58%)
S&P 500 1,410.94 +8.88 (0.63%)
Russell 2k 793.60 +6.55 (0.83%)
S&P 400 839.49 +6.92 (0.83%)
S&P 600 407.31 +3.30 (0.82%)

Strictly looking at price/volume here, it looks like insitutions are waiting on something to move. It may be that they are waiting on what the Fed has to say. For the Fed, its a balancing act. On one hand the economy has shown signs of slowing and sub-prime worries. The other hand you have inflation. Lower rates and you run the risk of ramped inflation. Send them higher? You’ll only bury the economy. I see them staying put for awhile. We’ll need some economic event to push them one way or another.

So stocks, just sit in the balance.

Tomorrow should be fun after 2:15pm EST (DST). I always like to see how the market reacts to the Federal reserve.

Aloha and Happy Trading!
MS

marketspeculator@gmail.com

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Comments

2 Responses to “Stocks move higher as volume remains enemic”

  1. z-stock on March 21st, 2007 3:19 am

    Market S.
    I’m glad you’re keeping tabs on the daily volume…I’m glad I checked in today to find out, as I don’t keep the records for myself, just so much to do…LOW volume. Not a very good sign..at all…

    I started nibbling at JOYG calls…Cheap ones, just in case the market swings against me…It’s at a great buy price…down 28%..from last high… I have seen it correct 35% before reversing….However 28% is the norm…

  2. Market Speculator on March 21st, 2007 5:34 am

    I am trying to formalize an option strategy. I do have one in mind but it only deals with calls/puts on the QQQQs. Long ways away for that though.

    JOYG got cut in half, wow.

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