Replies to post #170652 on Zeev's Turnips Patch-No Politics (ZEEV)

[Zeev Hed]

Where do yo get that there was heavy shorting? The equity P/C ratio (another indication of public shorting) never got close to 1 and today retreated back. Nothing to indicate an end of the bull, but nothing either to indicate a major leg up is ready to be launched, that is why I am staying with the scenario that trading above 2000 (particularly staying there) will probably wait till next year (it is only some six weeks out...).

By the way, did anyone note that both the BP for the Naz and the NDX were actually down today?

[market_watcher]

Make no mistake, every single share short counts as volume uncounted, yet soon to be.

Make no mistake, every single share long counts as volume uncounted, yet soon to be.

You have to sell those shares at some point, unless you are using the shares for dividend income or collateral.

There's always the possibility that I'm missing something.

[lee kramer]

Hi dvdmogul: Aside from reading a chart properly, volume is probably the most misunderstood indicator. There are times when volume is important; other times when it is meaningless. I suggest caution when reading something/anything into volume.

[Kirk]

Make no mistake, every single share short counts as volume uncounted, yet soon to be.

Tell that to the folks short ENRON or WorldCon

An ideal short never covers so the volume never comes.

Of course, if the market goes higher, then these shorts will have to eventually cover or suffer huge losses. THEN you are right.


Free sample of my newsletter: http://www.suite101.com/files/topics/270/files/WhatLetter2Buy.html