Edited by NAV, 27 August 2007 - 06:56 AM.
What i was looking for...
#1
Posted 27 August 2007 - 06:51 AM
#2
Posted 27 August 2007 - 10:20 AM
Nav, I don't use fancy waves or fancy MCAD.....All I see is light volume going up.....Heavy volume going down.....So how is the path of least reistance is up?.....Only when you turn the chart upside down?.....Weekly CCI on SPX above -100
ut leave that to those who have the tools, sophistication and the nimbless to battle it. Long looks easy to me over the IT i.e buying pullbacks, going forward.
Good luck all !
#3
Posted 27 August 2007 - 10:26 AM
Nav, I don't use fancy waves or fancy MCAD.....All I see is light volume going up.....Heavy volume going down.....So how is the path of least reistance is up?.....Only when you turn the chart upside down?.....Weekly CCI on SPX above -100
ut leave that to those who have the tools, sophistication and the nimbless to battle it. Long looks easy to me over the IT i.e buying pullbacks, going forward.
Good luck all !
If market breadth is a fancy indicator to you, why use even fancy volume. Let's make it even more simpler. Just look at the price. It's going up.
Edited by NAV, 27 August 2007 - 10:30 AM.
#4
Posted 27 August 2007 - 10:33 AM
#5
Posted 27 August 2007 - 10:49 AM
Gas in you car is like volume in the market.....No gas no go....
I have seen SPX rallying 200 points on this low volume argument this year. Yes, March 2007 rally. And i see one such rally every year.
#6
Posted 27 August 2007 - 10:50 AM
#7
Posted 27 August 2007 - 10:55 AM
The same goes for the early stage of the june/july rally last year, declining volume during the first 1 month and market went up 250 points over the next following 8 months.
Agree. I really wonder how these folks quoting low volume as a reason "to short/stay short" manage their trades. No wonder they all fight the market and dissapear after sometime, when the market makes a substantial move.
The high volume during the last couple of months seems like an anomaly, thanks to the financial panic. Otherwise, we are back to normal volume levels seen over the last 2 years.
Edited by NAV, 27 August 2007 - 11:00 AM.
#8
Posted 27 August 2007 - 11:29 AM
It's the illiquidity, stupid !
#9
Posted 27 August 2007 - 11:47 AM
Edited by ogm, 27 August 2007 - 11:48 AM.
#10
Posted 27 August 2007 - 12:03 PM
Its very simple... market washed out, no sellers left for now. A few rare and terrified bargain hunters are buying. And Bears that have stampeded to sell this short on every uptick in hope the bounce will be short lived are forced to cover higher and higher. But unfortunately for bears there is a lot of them. So they keep grinding each other up.
We had a huge washout on extremely heavy volume. Don't you think that all those funds that had to raise cash have already done so ? Remember 3 bil+ volume days and absolute panic ?
And yet the market held above the march lows...
makes you wonder...
"Sellers' Fatigue"?
Mark S Young
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