Replies to post #5816 on Shearson Financial Network (fka SHSNQ)

[americano]

Oh it will move up now before the end of the day with out the exact candle, hows that.

close will be above .02 hows that, lol

[smartmoney77]

Look here. On around the 5 and 6th of November we had a big drop on low volume. The next day we had a big increase on high volume. Didn't have a big volume down day in that reversal. What you are saying is often the case but it doesn't have to be. That reversal did not have a high volume down day.

Also which may be to our advantage here, Williams % looks like it is coming off over sold like it did on the 5th and 6th so we MAY be reversing up here.

The other good sign although we have a way to go is that the MACD is starting to turn up. Even if it didn't cross over and they ran together for a while at least we'd be moving sideways and not down IMO but of course we want it to cross up.
http://stockcharts.com/h-sc/ui?s=SFNN&p=D&b=5&g=0&id=p54297456534&a=93207252&...

[mjc1]

Circlegridder...

Not sure I agree there. MM's have been trying to shake loose shares for a month now. During that time, the Money Flow/Acc Dist has actually gone up. IMO it will take a negative news event (either industry specific or company specific), or a large dumping of shares into the float, be it naked shorting or large holders selling shares.

The big volume day you say WILL happen suggests some sort of capitulation. Don't think that's happening. What MAY happen is a big intraday drop on signifcicant volume, but IMO those shares will be quickly bought up and the stock will bounce intraday.

BTW, what's your definition of a big volume day? I'm OK with 5 million or so on a down day, but only one. And preferably no big red candle. If we get into a 10 million + down day AND a big red candle, I would be concerned.