Tuesday, August 26, 2008

mkt today

About Shark Watch

Tuesday, August 26 - 4:43 PM

Afternoon Comments

Although the market was able to move modestly off the lows of the session and finish the day in mixed territory, there’s no getting around the fact that this was one of the more lackluster trading sessions we’ve seen in a long time. Volume picked up over yesterday – which turned out to be the lightest of the year – but was still incredibly light.

Probably the biggest positive in the day was that yesterday’s selling pressures eased and that the major indices were able to avoid putting in lower lows. Regardless, there’s no arguing the fact that we continue to be in a very difficult trading environment. We did mention a few individual names that we traded during the day, but our scans continue to yield very little. We can’t stress enough the importance of picking your spots carefully, making sure that you stick to your own personal style of trading, and keeping those stops tight.

Have a great evening, and we will see you tomorrow.

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