Volume Rises for the Second Straight Day as Stocks Fall Further
October 22, 2008
For the second straight day stocks end in the red on higher volume. Back to back distribution days spell trouble for this market. Last Thursday’s Follow-Through day was weak at best, failing to close at the rally’s high and lack of new leadership was the key in spotting this faulty follow-through. This market is not lending itself any huge winners, it simply is for those who want to gamble and trade intraday. Day Traders love volitility, but for those who studied stocks that run 300%, 500%, 1000% or more know that this isn’t the time for those types of stocks. The stock market is going to continue to suffer losses and force market participants to give up and we’ll see our bottom.
In the face of an ugly market its best to stay on the sidelines. When the odds are against you, its best to step aside.
Best of luck
Market Speculator
Volume Rises for the Second Straight Day as Stocks Fall Further
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