Jun
05
2009

  Trading Volumes Are Dwindling

It appears that as the rally in the market continues, the volumes are drying up. That is a sign that fewer and fewer people think it's a good time to buy. I'll read some of my trading sites to see what kind of short activity is going on. That'll pick up when traders think there'll be a reversal. I think one is probably coming soon (soon being within the next six weeks). I still haven't gotten around to updating my chart comparing the current market to the one in 1973-74. I should probably do that today.

Oil is up today, so I'm pleased. We're poised to see day four of the 13-day countdown, it will depend on today's closing price. I'm not sure I'll wait until we hit day 13 since securities don't always make it to the end of the countdown. The recycled setup is both complete and perfected, so depending on one's strategy, one could sell at any time now. I might sell the first day of a TD turnaround point. Still thinking on that one.