Get a Load of These IPOs
As I write this early Thursday evening, I know full well the market could go either way Friday, based on how the February jobs report turns out.
It isn't great to see higher-volume declines followed up by lower-volume gains, and that's exactly what's happened in the major averages in recent days. On Feb. 29, the Nasdaq reversed off its high on volume of 2.08 billion shares. Then, on Tuesday, it fell in higher volume again on volume of 1.8 billion shares. For the next two days, as the Nasdaq bounced back in lower volume each day, there wasn't much conviction behind the buying. This generally makes for a weak foundation, and it's the main reason why I'm still cautious on this market. Conviction behind the selling and lackluster buying are not a recipe for success....567 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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