Which shell to watch…

Posted on Mar 31, 2012 by in Letters

Continuing to cause indigestion amongst technicians and the cognosenti, volume refuses to cooperate with conventional wisdom.  Perverse indicator.  Everyone knows that volume goes with the trend -- or supports it -- or does not diverge from it.  Meanwhile those shells keep moving too fast to keep track of.  So those who worry about these things are fretting on the sidelines while the market continues to "levitate"  ( we think it was Larry McMillan who said that) implying some other kind of trickery than shell games.  Nervous traders who fear that the market magician will saw the market in half point to it as a reason not to be in the market.  Rigid ideology will do that to you.

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