Online Stock Trading | Slippery Footing; Stocks Slide with Volume Easing

Slippery Footing; Stocks Slide with Volume Easing


Filed Under Market Commentary | 4 Comments

Thursday’s action puts doubt in whether or not this market will enjoy a Christmas Rally.

The Big 3, now ‘lil 3 of the auto industry had their executives in Washington begging for a bailout loan.  With the hope of a bailout diminshing as the day wore on the focus shifted to Friday’s job report that has many looking for 334,000 jobs lost with 100,000 manufacturing jobs making up a large chunk.  It didn’t take too long for stocks to lose footing and close down near the lows, but off the lows of the day.  Volitility remains and we have yet to see this market calm down and try to put in a meaningful bottom.  Until we can see daily swings tighten up and volitility leave the market the wild swings will continue.

Sitting in 100% cash isn’t very for nor is it sexy, but boy does it feel good to step away from the wild swings of the market.  I fully expect for this to continue until the daily swings of the market wind down.  In the past, I have mentioned New Highs versus New Lows and the need to see this ratio be favorable to New Highs.  This ratio continues to be dismal.

I continue to be in cash and will enjoy every minute of it.

Enjoy

MS

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Comments

4 Responses to “Slippery Footing; Stocks Slide with Volume Easing”

  1. Slippery Footing; Stocks Slide with Volume Easing : Monster Stock Trader on December 6th, 2008 3:02 am

    [...] Slippery Footing; Stocks Slide with Volume Easing Share and Enjoy: [...]

  2. zee on December 6th, 2008 4:30 pm

    hey market speculator,
    I’ve been looking at the VIX, and right now it has a very familiar chart pattern.
    Last 10 days or so, it moved up fast, then retraced 50%, and now is in a straight line.
    The straight line part either breaks out to the upside, or goes down one or two days in a row, to retrace the 60%-70% line and then breaks to the upside
    Looks like it could happen as early as next week.
    I named this candle / OHLC pattern the “corkscrew” and I see them all the time.

  3. zee on December 6th, 2008 4:37 pm

    Guess what?
    I started a subscription site. It’s true. I finally got on the dotcom system. Remember back in Aug, I was asking about your Wordpress theme?
    It turns out there isn’t any help on the internet to help someone start a cheap subscription service. I originally wanted to charge $2.95 a month. I ended up charging $3.92 a month.
    I ended up doing the whole thing on my own.
    It took me 4 month’s to figure out all the steps.
    The good news is,
    I have a lot of bandwidth to fill up. That gives me an opportunity to index my information for easy retrieval.

  4. Market Speculator on December 7th, 2008 8:59 am

    Very cool, congrats on the subscription site my friend. Hopefully, you can build a following.

    The market is building something here, increased accumulation but the leadership is weak.

    A nice little Christmas rally would be great.

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