Stock Market Commentary for Wednesday, April 27, 2005

Once again, the market is in the grip of very volatile "technical" trading, rather than focused on longer-term economic or business fundamentals.  Nasdaq's sharp 23.34-point decline on Tuesday was certainly disheartening, but it's par for the course with so much technical volatility and mutual fund money flows being so meager lately.

Nasdaq trading volume was light, almost moderate (1.73 billion shares), and breadth was strongly negative, with 2.32 losers for each gainer.  Despite the sharp point-decline, the meager trading volume tells us not to be very concerned about such a "technical" decline.

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-- Jack Krupansky