Yesterday was the lowest volume day in months. One would think all the excitement of multi year highs would spark the interest of the folks on the sideline to get on board and spike up volume and it is not. I think time has changed and not many or looking to the stock market for gains.
I read a quote last week over the internet and here it is " The stock market is system that distributes the wealth of the many to the selected few", wow that just somes up what I have been telling people all these years, the average guy is just at a huge disadvantage.
I am still watching the Nasdaq which is the only indices not to be near its all time high (and we know why!!!!!) for signs of when a topping pattern is about to form. My experience tells me the market will grind up on this low volume till be get a spike that is caused by the last bagholder getting on board and there will be our top. When that happens no idea! we just have to watch for the signs
Tuesday, February 12, 2013
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