Friday, August 13, 2010

State of the Stock Market - 8/12/10

I've got to run - hence the early post - but there really isn't much to talk about today.   As of 2:37, the day was a big snoozefest, with stocks chopping around near yesterday's lows and with volume running very low.   Typical summer trading overall, but not a session that the bulls can be particularly happy with in my opinion.  They could still get a push into the close if people decide to cover into the weekend, but if yesterday's "reversal" was going to be something meaningful, you would really think the bulls would have been able to push this thing higher right off the bat today, right?

I am still under the belief that we may bounce a bit early next week but ultimately head lower over the next two to three weeks.   I have no way of knowing how long we'll pullback for, but Wednesday was an important day and I don't think we'll bounce back from it as if nothing happened.  I'll be back Sunday with more thoughts - until then, enjoy yourself and have a great weekend.    

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