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Saturday, July 02, 2005 5:30:41 AM
***Nasdaq Compsite LOWEST VOLUME ON FRIDAY ALL YEAR... and lowest volume since November 26th, 2004, and since November 26th was a half-day and "Black Friday" at that... it shouldn't be counted as fair-weight against Friday...
So besides that, it was the lowest volume since October 11th, 2004... nearly 9 months ago!... but wait a minute, that was Columbus Day!... and many financial institutions were closed!... so can we count that day... no... next please...
Monday, August 30th, 2004... and also Friday, August 27th... were the only lower volume days on the Nasdaq Composite in recent memory that weren't holidays, weren't half-days, and most certainly weren't days where any mass number of financial institutions had their doors closed...
The significance of August 27th and 30th? Well if we look back on the charts, we can see that these days were basically the "calm before the storm." Those who bought this "calm" caught one helluva ride up to the high on the morning of January 3rd, 2005. Now if we apply the same logic to our situation now, one could easily argue that we are in an inverse situation here, and those that are "selling" are locking in their gains before a sled-ride down the hill... or are finding ways to capitalize on a down-move... that is what "smart" money ought to be doing in my eyes...
Right now I see us in late August, only the picture is turned upside down!
Conclusion: Another signal to "sell!"
+It's important to note that on such a slow day, the Nasdaq Composite did manage to close barely green or +.02% at 2057.37 (+.41)...
So besides that, it was the lowest volume since October 11th, 2004... nearly 9 months ago!... but wait a minute, that was Columbus Day!... and many financial institutions were closed!... so can we count that day... no... next please...
Monday, August 30th, 2004... and also Friday, August 27th... were the only lower volume days on the Nasdaq Composite in recent memory that weren't holidays, weren't half-days, and most certainly weren't days where any mass number of financial institutions had their doors closed...
The significance of August 27th and 30th? Well if we look back on the charts, we can see that these days were basically the "calm before the storm." Those who bought this "calm" caught one helluva ride up to the high on the morning of January 3rd, 2005. Now if we apply the same logic to our situation now, one could easily argue that we are in an inverse situation here, and those that are "selling" are locking in their gains before a sled-ride down the hill... or are finding ways to capitalize on a down-move... that is what "smart" money ought to be doing in my eyes...
Right now I see us in late August, only the picture is turned upside down!
Conclusion: Another signal to "sell!"
+It's important to note that on such a slow day, the Nasdaq Composite did manage to close barely green or +.02% at 2057.37 (+.41)...
HI-HO SILVER !!!
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