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Hi DIMITRIS,
Thursday, November 11, 2004, 4:32:29 PM, you wrote:
DT> Yuki, YHOO data gives V=3,200 for ^N225 Sept7. Is it correct ?
No. The correct figure for ^225 volume on that date is: 904,900,000.
DT> This day was a positive surprise, after the -1.3% of Sept3. It is
DT> probable to see this dead-cat-bounce tomorrow, but, this 3,200 is
DT> quite confusing [and should be wrong] Please advise.
Are you sure you are not asking about Sept 6? If so, volume for ^225
on that day was: 750,400,000.
I can certainly see similarities in the price patterns between then
and now. Yes, it was a surprise, but the action on September 3
portended the eventual swing, which was lower, after a lot of
chopping.
It is *very* possible that this is simply a fake out. After all, I
did say this was a target area for entry, even though I did not do
that today. There was a lot of technical damage done today, but as
you know, almost nothing is irreversible. Volume totals today did not
reflect the price movement, and all we have done is pull back to the
very bottom of a rising channel. If we hold very close to this
level, it will look as good as it looks bad right now.
But was not a pretty day. I was glad to step aside and let the
adventuresome play. I particularly did not like the action in the
futures, although most of the traders there probably belong in prison
anyway. ^^_^^ I'm up 66.24 percent this year (933.07
risk-adjusted), and I'm just about ready to call it a year,
especially if we get low-volume volatility like this (today's ^225
volume was only 688,220,000). Normally, I take the middle of December
off anyway.
Yuki
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