MAJOR INDEXES LOOK LIKE THEY SHOULD, WATCH FOR A RALLY
Posted on May 5, 2008
Filed Under Profitable Trader |
The Dow and S&P finished lower today but look at the volume, both lower compared to friday’s levels. The Nas also finished lower but on above average volume. Given the huge gains the Nas has made this is not something to worry about. Besides, the leaders are still breaking out even during today’s down day. This means the smart money is moving their cash to new leaders.
The NYSE short interest ratio is extremely high and when and if all these shorts start covering we will see some serious moves.
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