Thursday, June 30, 2011
Volume Heavier
The volume yesterday was the heaviest of the past 3 days, despite today going up the least of the 3. Not what the bulls wanted to see. Nasdaq volume hit 1752M and NYSE hit 909M. Monday was 1676 and 834. Tuesday was 1682 and 802. Contrary to what the textbooks say, you want to see low volume on rallies and high volume on drops if you are bullish. The past 2 years prove this very clearly.
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1 comment:
No, you want high volume near bottoms and low volume near tops. Has nothing to do with what the direction was on the day. If you're a long-term bull we're still near the bottom, so no man overboard yet.
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