Today's volume

[hissho]

hi all
i saw a large volume yesterday but it didn't close on the high; today up till now price is on its highest but the volume is VERY SMALL compared with the past a few days'.

what's going on there? is this a good sign? any opinions?

cheers

 

[swingstar]

It's a bearish sign. I think we'll see a bit of whiplash after this rally.

 

[BlackTie]

hi all
i saw a large volume yesterday but it didn't close on the high; today up till now price is on its highest but the volume is VERY SMALL compared with the past a few days'.

what's going on there? is this a good sign? any opinions?

cheers

Good observation. There is no follow through today means the general market is still very reluctant to jump in. I will invest a bit today, but will have stop loss in place.

 

[jet-r]

or is it because of the weekend ahead of us? after the few nose diving down days, I'd assume people would be cautious and have the "wait and see" attitude.

 

[sails]

Hissho, expiry of June SPI futures contract may have had something to do with the high volume. Below is information posted yesterday on the BHP thread on this subject:

GP,

If today's high volume is what worries you, stop worrying.

The following is a note that was sent today by an equity analysis firm:

"Owing to the expiry of June SPI Futures contract today, the early match volume and prices will be skewed. Expect larger than normal volumes on the early and late (close) matches today."

I hope that makes feel you better.

Cheers

WBT

 

[mit]

Also my portfolio is pretty broad except that I hold no commodity related stocks. My portfolio is up 0.25% while the market is up 2%. This could show that the volume is fairly narrowly concentrated.

MIT