The Stock Market Awaits Election Results
Filed Under Market Commentary |
Stocks end mixed on lower volume, awaiting the next elected President.
The NASDAQ saw a bit of positive price action, but once again volume closed lower than Friday’s level. In addition, call buying dropped again suggesting many are simply standing on the sidelines waiting on the election results. Simply put, yesterday was a “nothing” day. This confirmed rally is weak at best and the lack of accumulation following the confirmation proves that this rally has very little chance of succeeding. I really would like to see a new bull market but can not commit to anything as of yet. Hopefully we can get something going on the long side soon but if we don’t I will remain in cash.
Get out and vote!
MS
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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