By Lawrence G. McMillan
Today is a half-day, holiday-shortened session, and Friday will likely be a very low-volume affair. However, that doesn’t mean that prices can’t be volatile. In the bear market of 2002, the bulls engineered a 300-point Dow rally out of nowhere on July 5th, only to see the bears wipe it out completely in a few days after that. But if you have positions, these big moves can be meaningful. I would prefer not to see the bulls try such a false attack now, but if they do, we’ll have to follow along...
This commentary was excerpted from this morning's edition of The Daily Strategist newsletter.
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