Sunday, August 26, 2007

Update to Fast Money

I made a stink about Fast Money the other day when they claimed that rising price on weak volume is bullish.

Here is a quote from Bill O'Neil regarding rally attempts off of market bottoms.

"You'll know the initial bounce is feeble (after a correction begins) if the index advances in price on the third, fourth, or fifth rally day but on volume lower than the day before. "

I'll take O'Neil's advice over the "Fast Money Five" any day.

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