20 replies to this topic

[SemiBizz]

Volume means nothing if it's light here and price goes to the moon.... exactly as expected for holiday and summer trading... All rules can be broken in the direction of the trend...

[gorydog]

Volume means nothing if it's light here and price goes to the moon.... exactly as expected for holiday and summer trading... All rules can be broken in the direction of the trend...

I am planning to stay long over the weekend. I think monday will see people return and want in.
GD

[eminimee]

ES up 7......and I've made 16. . . still proving a point....but admittedly...it's not for everyone.

[qqqqtrdr]

It is 4rth of July week folks. I wouldn't read much into low volume on the upside due to so many traders and brokers on vacation. It is fun to watch people pointing to equity put/call cause it is the most bearish of all the put/call ratio. One needs to take a look at Equity, OEX, and CBOE Put/call ratios as a whole and not one individually. Barry

[outsider]

Profit on low volume = profit on high volume. I enjoy it just as much.

Denleo

Its only a profit after you cash it in

Its only a profit when you STOP PLAYING the game and happen to come out AHEAD. Remember Livermore and others? Or am I looking at it wrong?

---Out

[IYB]

Profit on low volume = profit on high volume. I enjoy it just as much.
Denleo

I agree. Sure beats the flip side agrument that "though your shorts went against you today, the volume was light"....

Good weekend all. D

[NAV]

Again folks, the point i was trying to make was that the ingredients for a breakout are missing at this point. It's much ado about nothing at this point. Yes, i have seen 1000 point rallies on DOW on low volume - i think it was Dec 2003. But i learned a few things today. Rules can broken in the direction of the trend, since trend supercedes everything. Why that realization now ? This market has been trending for the last 3 years. So is all that volume and breadth anlaysis pure baloney ? That brings us to Gary Smith's point of just trading prices, with no regard to internals. Heck money is made on prices after all and not on internals. Well, at least, Gary is consistent about his methodology.

Edited by NAV, 06 July 2007 - 11:17 PM.

[OEXCHAOS]

The Bulls made money Friday. Now who's going to make the money on Monday, Tuesday, and Wednesday? That's what I'm interested in. I'd like to be one of them. Mark

[relax]

maybe we find a bottom wednesday and go up for OPEX

or maybe the other way round

i just find the bull campaign too risky for me at the moment - when will they react to rising rates - seems to be a matter of time, but maybe we need to get to cpi/ppi date in two weeks until we get some serious action

Nasdaq daily and weekly is still within its upper bollinger band and therefore i don't see this run being powerful enough yet

we need to get above 2.670 and 2.700 in order for me to get bullish

Cheers - by the way any signals yet on the 5 day bull bear chart

Enjoy the weekend ;-

The Bulls made money Friday.

Now who's going to make the money on Monday, Tuesday, and Wednesday?

That's what I'm interested in.

I'd like to be one of them.

Mark

[SemiBizz]

Again folks, the point i was trying to make was that the ingredients for a breakout are missing at this point. It's much ado about nothing at this point. Yes, i have seen 1000 point rallies on DOW on low volume - i think it was Dec 2003.

But i learned a few things today. Rules can broken in the direction of the trend, since trend supercedes everything. Why that realization now ? This market has been trending for the last 3 years. So is all that volume and breadth anlaysis pure baloney ?

That brings us to Gary Smith's point of just trading prices, with no regard to internals. Heck money is made on prices after all and not on internals. Well, at least, Gary is consistent about his methodology.

There are 3 ingredients.. PRICE, VOLUME, TIME.

TIME - Time does not just mean the measure of your chart, months/weeks/days/hours/minutes...There are also Seasonal factors, knowing WHEN to EXPECT low volume. I refer to this as dissonence.

You must think of VOLUME as electricity. You need a certain amount of current to power up your appliances. When that power is diminished all of a sudden things get out of whack... lights brown out, your old analog appliances like your phonographs and tape player will work partially and give you some strange musical sounds... but your digital ones shut off because they read the voltage and understand the damage that can be done on low power... and so it is in trading dissonent markets with low volume. That is why penny stocks are hyped and sent to parabolic places over the Christmas holidays... in the absence of any selling pressure prices can go to some wild places when volume is applied to normally no-volume issues.

With greater volume in the broad market the signals improve, the digital appliances (High Volume Program Trading) come to life. Then you can operate with a better "read" of the market....

Until then, enjoy the euphoria... because it won't last.

Edited by SemiBizz, 07 July 2007 - 11:34 AM.