Monday, January 12, 2009

What Happened To The Volume?

(Evidently there is some kind of software glitch, to see full chart click on it)
This is not the level of volume we expect at the turn of the year. In fact we normally get more volume at the turn of the quarter.


So here we are in a sideways move now since October, on declining volume. We're building up to something, but what is it?


Posted by at

6 comments:

  1. melJanuary 12, 2009 at 11:34 AM

    There's too much cash on the sideline. Buyers and sellers are tired and are waiting for confidence to build up on the market.

    ReplyDelete
  2. steveftwJanuary 13, 2009 at 5:10 AM

    Semi - what do you think of some of the SMH components here? EMC, for one, looks like it's coiling for a breakout.

    ReplyDelete
  3. steveftwJanuary 13, 2009 at 5:14 AM

    Semi - what do you think of the semi's right here? EMC, for one, looks like it's coiling.

    Action for the week may be capped in EMC to 12.50 (max pain stuff), but with that large volume candle a couple of days ago, if the general market does have a final 'bama rally, 14-ish in the cards?

    ReplyDelete
  4. godwithoutpowerJanuary 13, 2009 at 7:27 AM

    semi

    any updates on oil? thanks

    ReplyDelete
  5. SemiBizzJanuary 13, 2009 at 2:16 PM

    Hi Steve, with regard to EMC, it's a bearish upthrust off what happened on 10/30 with about 8% more volume couldn't break the high, and today you had a volume acceleration to the downside. Probably tests that 1/6 low of 10.72. If you look at the SPX chart I posted above regarding 10/10, you can look at EMC in the same way, that $11 high from 10/10 keeps sucking price back into it...

    ReplyDelete
  6. SemiBizzJanuary 13, 2009 at 2:21 PM

    OK, I did mention that crude contract needed to hold 40.57. We took profits on Friday afternoon for volume reasons on USO and also because we know from experience the weekend tends to set up whipsaws.

    Now USO should it continue to drop will test the high volume low of 29.15 and probably our calculated 1.0 Fib number of 28.87.

    There's a good chance that all that is happening here with USO is as "Secondary Test" of that fib/low area before it takes off.

    Watching.

    ReplyDelete

Subscribe to: Post Comments (Atom)