Yesterday really wasn't big volume that we'd like to see in a sell-off of significance. Here are the volume figures we had during the 3 week November sell-off, this is more on par with what I am looking for and hope we get soon:
Notice we had ridiculously low volume heading into the break, until the moment we broke $2.20, which had been the key lower low until that time. Once we broke $2.20 on Nov 7, daily volume accelerated and we had multiple days over 100,000 and 4 days in a row over 600,000 as the sell-off reached its (temporary) end around Nov 22. Also, volume was always much heavier on the sell-off days, than on the couple of up days that represented a temporary hiatus of the selling period. There wasn't a single day that entire 2 weeks when we didn't have at least over 100,000 traded on a day the stock fell.
2 weeks later, we awoke in a new reality, having gone from $2.20 to .71 in just 2 weeks. Now THAT's a sell-off with conviction.
So I don't consider any single day to be significant, no matter what the volume. And 1 day of 200,000 isn't the volume we need I think in any case.
DATE OPEN HIGH LOW CLOSE VOLUME
Nov 23, 2011 0.95 1.10 0.92 1.00 627,300
Nov 22, 2011 0.75 0.92 0.71 0.91 618,600
Nov 21, 2011 0.86 0.90 0.56 0.71 1,115,500
Nov 18, 2011 1.27 1.28 0.89 0.95 613,700
Nov 17, 2011 1.60 1.60 1.23 1.29 141,100
Nov 16, 2011 1.74 1.75 1.50 1.68 127,000
Nov 15, 2011 1.85 1.85 1.65 1.75 21,900
Nov 14, 2011 2.10 2.10 1.60 1.70 58,800
Nov 11, 2011 1.55 1.76 1.48 1.68 345,600
Nov 10, 2011 1.91 2.00 1.65 1.74 101,000
Nov 9, 2011 2.03 2.03 1.87 1.93 139,400
Nov 8, 2011 2.19 2.19 1.57 2.07 275,100
Nov 7, 2011 2.45 2.45 2.11 2.17 111,000
Nov 4, 2011 2.35 2.39 2.19 2.25 60,500
Nov 3, 2011 2.30 2.30 2.20 2.20 40,300
Nov 2, 2011 2.35 2.35 2.20 2.26 52,300
Nov 1, 2011 2.33 2.33 2.22 2.22 41,700
Oct 31, 2011 2.30 2.44 2.19 2.31 54,400
Oct 28, 2011 2.40 2.43 2.35 2.36 27,000
Oct 27, 2011 2.31 2.36 2.25 2.35 19,400
Oct 26, 2011 2.40 2.44 2.34 2.36 33,700
Oct 25, 2011 2.50 2.50 2.37 2.40 36,800
