Friday, December 26, 2008

Post-Holiday Trading = Means Nothing = A Motionless Market

If it wasn't for a little bounce in oil, it would've been completely dead out there today. Volume was practically nonexistent. Breadth was positive on the NYSE. However, it was so slow that it doesn't matter much. There is no edge at all when things are this dead.

Frankly, I think this is pretty much a waste of time today. It is too bad the stock exchanges didn't simply extend the holiday like they do in Europe, but I guess the folks who make their money off order flow are going to determine how things are done.

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