My opinion on the market is primarily a function of the hundreds of individual charts I look at throughout the day. When I see a large number of stocks moving on volume increases I take note. Volume is key to my decision making. I need institutional demand on my side. When the big players are piling in it gives me greater confidence that a meaningful price move will produce some upside momentum. I think of volume as the rocket fuel that drives a stock.
It doesn't matter how good a stock is if it doesn't have the rocket fuel. Volume shows ignition. Spring follows winter. Keep your powder dry.
It's a nasty environment out there. Thank you Bernanke, Geitner, Yellen, the Fed, Congress, etc............ We are in a bear market. That said, the risk of a massive spike upward is possible before we resume the inevitable downside due to central bank printing.
