Lowest NYSE Volume of the Year
Peter Boockvar notes:
Today's consolidated volume for NYSE names was a low for the year to date.
Helene Meisler notes:
It's a bear market -- and these low volume rallies are typical of short covering. (unless you believe all those dark pools are swallowing all the volume!).
As long as there are shorts in the market we will get rallies; Once the shorts cover we get a decline like last week.
Doug Kass goes even further:
I am starting to scale into shorts now.
My favorite? PowerShares QQQ (QQQQ).
My catalysts? The VIX and volume.
That's our surprising data point of the day.
Monday, May 12, 2008 | 05:01 PM | Permalink
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A lot of index charts look like that. And the Bubblevision fools are peeing in their pants about the close tonight.
Posted by: Innocent Bystander | May 12, 2008 5:27:47 PM
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