Stocks Continue to Bore; Volume Jumps Higher
Posted on March 28, 2008
Filed Under Market Speculator |
What the market is giving us is a market to dare the weak to overtrade. Stocks slumped yesterday on higher volume but volume was still below its 50dma. There isn’t much to get out of this market but to go broke. If you are overtrading, which is actually doing any trades now you are overtrading. This market is begging for participants to flood this market with new cash to destroy it. The de-leveraging process has begun and will continue to come as we move forward.
The only side right now is the sidelines, clear away from this market. It is far too dangerous to play right now as the long side there are few set ups and the short side we’ve seen too many gap ups. This market could be waiting to the end of the first quarter to end on Monday. Many fund managers may be hesitant to put on any positions before the month end. Possibly to avoid their performance to be much worse than it is now.
Cash is King and stay on that sideline.
Market Speculator
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