I can’t imagine a harder market to trade but I am sure that some people are making money. Just not me!
I am happy to be on the sidelines but do wish I was short.
Here is why this market is tough:
1. Volume is anemic
2. No leadership – I guess Utilities and Consumer Stocks, but these are not super exciting growth areas to get all margin sloppy :)
3. ALL the big moves are to the downside
4. The nervousness is high, but the MEDIA is ignoring the market difficulties.
5. Oil is at record levels, but the stocks act pretty lifeless.
6. The mood for September will be nasty. I know I am not happy to be done with my great summer.
Degraaf at Lehman has some more meat if you want to go DEEP and look at the charts! Click on the link right below.