Biotech Values

[mcbio]

Well, the bounce from the low (late November), hasn't been on very impressive volume, so I reduced my position in MNTA last week accordingly..

I often see statements in reference to volume and the potential related implications. I personally don't understand how significant volume matters at all and never pay any attention to it. What is the relevance? Is it that upward move on large volume signifies "smart money" making a bullish bet? If so, smart money is often wrong.