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Monday, January 24, 2005 6:09:32 PM
QQQQ at $36.65 after hours, +.12 (+.33%). They may try to still get the bear pikers out over the next few days if the gap up holds tomorrow, but be sure to remember, the trend is down, volume always tells the truth. Today's volume on a day the Q's finished down 1.40% was an amazing 137.55 million in volume.
This type of volume was only seen 15 times in all of 2004 on the Q's. And so far this year, it is a new high in volume, and the highest volume since (arguably) the day that the bubble kicked off, November 3rd which saw about 141M in volume.
If anything this volume to the downside and the lack of a substantial tail on today's candlestick reiterates that the market has turned from a bull to a bear. Any rallies, should be called bounces, because like in any dominating trend, the counter-move will tend to be brief in nature
This type of volume was only seen 15 times in all of 2004 on the Q's. And so far this year, it is a new high in volume, and the highest volume since (arguably) the day that the bubble kicked off, November 3rd which saw about 141M in volume.
If anything this volume to the downside and the lack of a substantial tail on today's candlestick reiterates that the market has turned from a bull to a bear. Any rallies, should be called bounces, because like in any dominating trend, the counter-move will tend to be brief in nature
HI-HO SILVER !!!
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