TVO Market Barometer 8/13/15

TVO MB 8-13-15b

The bears managed to put a lid on the snap back from the previous session for the time being, but although the flame was quite high (The HG was up to a warm +33), overall volume took a huge plunge of over -20%. While the shorts surely get an “A” for effort, it seems that many heavyweight speculators have moved to the sidelines to wait… Are they waiting to see if China really matters, or for oil to bounce? Or are they really just waiting for the Fed, because this next meeting (as it has been for every “next meeting” thus far, for that matter) might just be the one? Maybe everyone is just so tired of waiting… But therein lies the real secret to successful investing… waiting in cash for just the right opportunity. In any case, we do know that when the bears start to run out of steam, a rally will soon follow. -MD

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