Friday, July 30, 2010

Up, Down, Down,Up, Flat, Up, Down….ENOUGH!!!!

Magnifico

June 30, 2009 by Magnifico · Leave a Comment 

Summer is mainly know for lazy trading months but this may not be the case for this year. With new earning reports starting next month something major will happen (at least I hope so) but not sure if in a positive or negative way.
If we expect this rally to continue the companies must begin to report better earnings otherwise…….you know the rest. But also volume is worrisome.
I am going to quote Art Cashin (director of floor operations at UBS Financial Services) here who says:
“Rallies in bear markets tend to be somewhat short, but certainly very sharp — and they die on low volume.” – and for the past two weeks volume has been low.

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