Wishful thinking might disagree with me but I'm not about to buy into it.
Volume is barely above 200K with about an hour and a half yet to go in the session. Trading we're seeing thus far isn't anemic---it's so bone dry even a starving vampire wouldn't be aroused.
I'd expected to see a spike in volume after the two day one-on-one to-do this week in a heads-on presentation but it's not in evidence---not yet, anyhow. We rarely see such muted trading but it shouldn't bother us.
However, there will be a day during the next six or seven weeks when I predict we will have visited our low of the three month distribution-based cycle. Hopefully those of us still in the hunt will seize upon the opportunity to buy on the cheap. I'm hunting!
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