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Will the Bears Pounce on the Failed Bounce?

By Steven Smith

 About this article:
 Stocks tried to open marginally higher this morning but quickly gave up the green line as buyers have moved to the sidelines. While the shrinking volume and trading range can be attributed to the upcoming holiday weekend, it brings to mind one motto of the small liberal-arts college I attended (and from which I did indeed graduate). The university could barely cobble together a few Division III teams; I think there was a swim team. Instead, there was a nice plaque in front of the state-of-the-art athletics facility -- courtesy of Coca-Cola, which donated huge money -- that read "Sports for Everyone: Out of the Stands and Onto the Playing Field." Today's action in the stock market seems to be the opposite. Traders are leaving the field and heading into the stands. As we know, volume is an important weapon for the bulls. Without fresh buying, stocks...

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