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Jerry,
I've been concerned about the same thing regarding the two stocks I've got
puts on (IBC and MLHR).
The picture is as you describe it. MLHR was down yesterday with 318K shares
and then up today with 705K. IBC down yesterday with 77K shares and then up
with 225K shares.
I had been bearish on these two because I thought they, among many, many
others, had chart patterns looking like tops (i.e., no lower high, lower
low, breakdown from the hhv on heavy volume).
And both of them now are in positions where they old support level would now
be considered a resistance level.
But this volume point is troubling...
Steven Buss
Walnut Creek, CA
sbuss@xxxxxxxxxxx
-----Original Message-----
From: Greatelto@xxxxxxx <Greatelto@xxxxxxx>
To: metastock-list@xxxxxxxxxxxxx <metastock-list@xxxxxxxxxxxxx>
Cc: GROBERT1@xxxxxxx <GROBERT1@xxxxxxx>
Date: Wednesday, October 29, 1997 12:00 AM
Subject: Key reversals
>I reviewed most of the stocks in my data base after Monday's collapse and
>noted the large majority were down sharply but on no pick up in volume. In
>many cases, the volume dropped well below the daily average.
>
>Then I reviewed them again after Tuesday's rebound and discovered most had
>huge volume increases and closed up after earlier lows...key reversals.
>
>I would appreciate hearing from others what they saw. Not so much about
the
>key reversal day on Tuesday, but the action their stocks had on
>Monday.....the low volume on a sharp down day.
>
>I always believed that volume followed the trend. Any comments?
>
>Jerry
>
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