Posted by: fortunefaded May 18, 2009
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database,
That's a smart decision. Looking at the daily volume on SPY, it looks like the rally is losing steam.
Sure you see headlines of DOW gaining 240 points, but look at the volume on SPY. It's the LOWEST since the March rally started. What this means is that the upward momentum is definitely getting weak. The amateurs are getting sucked in. I would buy long until I see some good volume.
Regards,
FF
That's a smart decision. Looking at the daily volume on SPY, it looks like the rally is losing steam.
Sure you see headlines of DOW gaining 240 points, but look at the volume on SPY. It's the LOWEST since the March rally started. What this means is that the upward momentum is definitely getting weak. The amateurs are getting sucked in. I would buy long until I see some good volume.
Regards,
FF