Monday, October 20, 2008

NASDAQ Technical Picture - Low Volume, Inside Day

Today's higher close was courtesy of energy, commodities and gold. Tech lagged the broader markets and the TSX +7.2% outperformed. The lack of volume is a big concern. Keep an eye on the intraday trendline.




3 comments:

Unknown said...

Jamie,
Do u think we've at least put in a ST bottom?

TJ said...

YR,

Yes, but the market is extremely wounded and fragile. All my trades are on the long side and holding small positions overnight in retirement account, but the lack of volume is a big worry.

I read somewhere that mutual funds are putting most of their money to work in last hour and half of trading session. I noticed that on Thursday and again today.

TJ said...

YR,

Correction, I had one short ABX on Friday,and I am short futures right now in after hours trade. But the bigger money is being made on the long side.