Tuesday, October 21, 2008

Watch Your Ass

That's an hourly chart of volume on the NYSE. I drew a horizontal line after the first 4 hours of trade today to illustrate how volume has completely, and rather suddenly, dried up.

In short, it has taken us 4 hours today to get to where we were volume-wise in 2 hours most of last week.

We've quickly moved from a market where you were rewarded for "pressing your bets," to one where you can easily get smoked in low volume chopfest.

Trade accordingly.

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