Virtual Office, $8589. Dow, -108.28, 13,984.80.
Evolution, $1007 on 21,800 shares traded.
OBAT, $501 on 11,400 shares traded.
Momojuicing, $492 on 9000 shares traded.
Me, $350 on 26,000 shares traded.
Akalawoo, $118 on 4 contracts traded.
Denarii, no trades.
Bubs, no trades.
Tapeworm, -$289 on 4 contracts traded.
Well, it was a pretty good day for the VO as almost everyone finished in the green. The only straggler was our lowly futures trader, Tapeworm.
Volume came in above Friday's abysmal levels with 1,287,430,000 shares traded. However, that's still pretty crappy. The disappearing volume should be some story by now however I don't really hear it being spoke of much. What gives?
Despite the big rate cut, I'm very nervous about this market. I tried to be bullish for awhile, but I'm just not feeling it anymore. Volume only comes on the downside. It's making me worry.
Are we due for a hit soon?
In the weekend thread, HPT called for a big fall today... he got a fall but the late afternoon resilience kept it from being "big." We'll see.
2 comments:
Lightest Volume Week of the Year
Last week was the lightest volume week of the year, with an average NYSE daily volume of 1.099 billion shares. Four of the 10 lightest trading days of the year were last week, with the second lightest on Monday (Columbus Day), the fifth lightest on Friday, the seventh lightest on Wednesday and the tenth lightest on Tuesday.
Of course, markets can still rise on light volume. The danger, however, is that it doesn't take much to knock the market down, as we saw on Thursday when volume came in at 2pm and the S&P 500 fell 200 points from the high.
The market has risen 14% off the lows August 16 lows. However, this rally has been on the back of seven of the eight lightest volume weeks of the year. The market is not rallying on a sturdy foundation.
reference link:
http://runningofthebulls.typepad.com/toros_running_of_the_bull/2007/10/lightest-volume.html
its over my head whats happening here, but i dont like it.
Yeah, thanks for the link.
I don't like it either. I just think it's weird.
Fishy.
-DT
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