Zero Hedge is starting up their BS again

Posted on | Monday, January 25, 2010 | No Comments

http://www.zerohedge.com/article/volume-story-convictionless-buying-follows-conviction-selling


Too bad ES closed with a 79.25% retrace off its highs. That's not buying folks, that's called selling. Unbelievable.

The Volume Story: Convictionless Buying Follows Conviction Selling

Submitted by Tyler Durden on 01/25/2010 15:36 -0500

Complacency is back with concerns of an overvalued market promptly brushed under the carpet. The sharp downward market trend has reversed today, courtesy of VWAP algos and other low-volume gimmicks. The volume picture is the same we have seen time and time again- selling accelerates on catalysts, while the autopilot move is higher on marginal volume. The market no longer cares about upside catalysts (look at tepid reaction to earnings season), yet give it a negative catalyst and the floor falls off, with fund managers looking for any excuse to sell.

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