I thought it incredible that the NYSE A/D volume at the low of the day was negative 51:1, yes, -51 to 1. Can’t remember ever seeing that before!
And a quote today from Don Worden at Worden.com, the publishers of Telechart, Stockfinder and FreeStockCharts.com:
The market has to prove itself before a bear can advance into a bull market once again. It can only prove itself by going up and down a number of times until it becomes clear that it has the strength to go on to better things. It does this by providing comparisons with preceding trends in the opposite direction.
So just remember, when all this bullsh!t is done, we’re going up!
Sometimes, entranced by the screens, watching equities, options and futures change colors, charts moving in a wave, and indicators pointing in every direction, I just have to scream....
Wow, what a last few days of trading. Extreme volatility is back big time. It pays to know how to manage risk in these type of market conditions.
The A/D ratio was amazing as was the volume. Mind boggling stuff that rivals some of the days in late 2008.