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In a message dated 97-12-06 20:01:38 EST, detomps@xxxxxxxxxxxxx writes:
<<
When I look at my cumulative volume index. which is just an intraday net
advancing volume.. I notice one thing.. It took less shares/point and
less time to proceed from the 10/28 low to 12/6 than it did to go from
the 8/18 low to the October top..
I'm no quant but it looks to me like there are less people selling.. Why
else would price go up on such momentum if people were selling the heck
out of it.. But that is not the last week.. the angle of assent isn't
as steep..
>>
Trust your own observations.....If the sellers "dumped" their load
into the Oct drop....you now have a vacuum of "sellers"...meaning
that a small amount of buing can create upticks....with market
makers taking the other side (sell) of the trade...likely net short
now.
Count the number of days to the Oct low....Count the number of
trading days to now....Do you get about 2 to 1 ratio....
So it has taken twice as long to go up as it went down.
Somewhere about half way.....We might guess that the market
makers have been "layining off" what they bought at the bottom.
When they are through...and their shorts are in place the market
will be free to to "free fall".....again......
Well, you know Korea,Phillopines, Thailand, Japan, Mexico woes
have not gone away....just because the market had an oversold
Santa Clause rally.
So ENJOY THE HOLIDAY!
GerryB/jer33:3
learner/teacher
eccl 1:9
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