Volume Slides but Stocks Race Higher
November 25, 2008
Stocks move higher as shorts race to cover their positions.
This market continues to fool many people and will continue to do so. The lack of new highs being made by this market is a tell that we do not have a healthy market. Until there is true buying, and that is accumulation rather than low volume short covering induced rallies. Accumulation will be with days that stocks only move 2-3% with volume higher than the previous day. We have yet to see real accumulation in this market. I wouldn’t be stepping near too many stocks or searching for bargains. Losses need to be cut short and new buys need to be small.
Best of Luck! Brighter Days will be ahead, but it will take a long time.
MS
Volume Slides but Stocks Race Higher
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