Wall St. is on vacation, volume slides off a cliff while stocks slide lower
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Stocks slid on the day as volume subsided across the board. Not much to today’s action, the CBOE put/call ratio remained above 1.0 signalling that bearish bets continued to outpace bullish bets. It is not surprising we continue to see bears adding to their bearish bets. At this point in the game I can not wholeheartily disagree with a bear about the current market situation. I just wouldn’t act on it yet. Again, we are still looking for a follow-through day in the market and until then I will continue to be sitting in cash.
Take a breather and weather this weak market.
Market Speculator
Last 5 posts in Market Commentary
- Quality Growth Stocks Lead the Way as Stocks Advance in Mixed Trade - June 2nd, 2009
- Re-Inflating the Bubble; Inflationary Pressue Lifting Stocks - June 1st, 2009
- Treasuries Begin Their Decline Striking Fear into the Stock Market - May 28th, 2009
- Follow on Twitter and Seeking Alpha - May 28th, 2009
- GMCR - May 15th, 2009
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