Again we get volatile action but today we saw volume pick up in the NYSE but man did NAZ volume lag, I don't remember a time there was over 600,000 MORE shares traded. I have no answer why, other than riskier stocks not as attractive.
We have end of month marking up going on, and maybe it seems to obvious that high oil and 1 million displaced Americans was not bullish for economy, so players went against the grain and it worked well today.
Maybe markets will hold up into mid Sept, but I wouldn't bet on it.
So far, just a trading range market, going nowhere. And the effects of Katrina for now being discounted in some quirkish obscene bullish way.
D
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