Don't Let Your Guard Down
Just about a week ago, I noted that neither bulls nor bears should be complacent. I also noted that the folks in Washington -- Republicans and Democrats alike -- should not be complacent, either. I think Wednesday's action tells us exactly why that has been the correct posture, and likely will continue to be.
Let's just review what some of the statistics from Wednesday's trading show, since there were positives and negatives. One indicator that surprised me the most was Nasdaq volume breadth, which was positive on the day. Consider this for a minute: While it might not sound like a lot, Apple (AAPL) traded about 2% of the total volume on the index, while the Nasdaq itself lost 23 points on the day. So more had to be happening than just the drop in Apple, and yet net volume was at a net positive of 68 million shares. I would have expected it to be negative, and it wasn't -- so that is a plus....492 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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