Tuesday, May 10, 2011

What Selloff?

Last week's selloff is quickly fading from memory.  Another low volume V shaped move is rocking and rolling.  We're 11 points away from the high on the S&P 500 reached at the turn of the month - buying every dip like Pavlov dogs remains the only game in town.  (look at the bottom of this chart, how volume each day of rallying drops materially v the days we sold off last week - it's magic.) 

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