Ian Woodward's Investing BlogFire in the belly!
There is still fire in the belly of this tired market with a 187 point gain in the Dow and a 32.5 point gain in the NASDAQ. All the recent song and dance is about the bond yields spiking up and the Dollar regaining some of its weakness, so it is not difficult to quickly bind the limits of the problem. It goes without saying that the volatility in this yo-yo market abounds on a daily basis now. It has virtually come down to day-trading or very nifty swing trading. In a market like this it is almost better to step aside when one is this confused as to the solid direction of the market. We even had a Eureka signal (my special indicator) which at this late stage of a bull market run usually implies we are headed for a correction.
Then there is the daily volume for the QID doubling that of a month ago delivering 20 Million shares routinely and as high as 31 Million…it has become a serious hedging tool from what I can see. Likewise there are many disappointed souls who feel they got in at the bottom of the QID only to find they were too early on their timing.
RSS 2.0 Feed