Monday, August 25, 2008

Brief or Short?

Top Line: The stock market may have started its strongest down move in the down move from last October. As we mentioned in our last post, the possibility of the kiss of death increased with the down move on Monday.

The trading day may have been even more negative had there been a little more volume but the bulls should not be rationalizing the drop because of low volume. We think that in this stage of the move, low volume is a sign that there is no buying. The August timeframe normally has low volume anyway so we really can't conclude much, but certainly it's not an excuse to be bullish, like everything else seems to be.

Please tell me this didn't happen again. We have lost our post again...Something has to change...

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