Online Stock Trading | One giant YAWN, volume subsides as stocks inch higher

One giant YAWN, volume subsides as stocks inch higher


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Today’s market was one giant YAWN.  Volume was down near 40% from Friday’s trade.  Not much analysis can be drawn from today’s trade other than its leaders.  RIMM hit all time highs after bouncing nicely off its 50dma last Friday.  CROX is another leader that faired well today, moving higher on volume.  Other than these two the days action was quite boring and uneventful.

I would be still in cash, its neither the time to be long or short.  With RIMM and CROX acting well there is no reason not to believe that this market can’t move higher.  Keep patient and on the sidelines.

Today will be Day 4 of the attempted rally, remember we need one index higher by 1.7% with volume greater than the previous day.  One thing to keep in mind, we can go many days without a follow through.

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Comments

One Response to “One giant YAWN, volume subsides as stocks inch higher”

  1. DeMerchant on August 21st, 2007 7:51 am

    So um… how’s shorting CROX going for everyone… worked out well for you? lol

    Glad we, and people who follow MauiTrader didn’t fall into that “Bright Idea”

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