....It's just a "buyer's strike."
Bob Pisani just reported that this is just a buyer's strike on low volume. Light volume certainly could be a plus but buyer's strike means lack of demand for equities.
I would not want to be too quick to dismiss a lack of demand.
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2 comments:
funny, that line struck me as kind of pointless also. I think the first lesson I learned in my limited technical analysis training was that low volume is WAY less significant when analyzing a selloff than a rally.
Ha! I was laughing/yelling at him when he was bringing that garbage as well. No buyers, only sellers is good? Like Adam said, low volume isn't so significant when looking at a selloff. I think Art Cashin gave a better analysis when he was on later. Nice work on RM by the way. I used to read your blog but tailed off when you joined RM as I read that as well. I'll have to visit here more often.
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