Friday, September 24, 2010
Unusual Phenomena, still trying to figure it out
12.15 pm. 1 billion shares changed hands before mid-day break. I have not seen 1 billion shares done before lunch break for a while. Much higher volume on the way up will have a high chance of correction because the market is running out of oxygen. What is unusual now is we have big buyers really believe in buy on dip, after a fiece sold down yesterday. The seats are taken as soon as somebody got up. Penny stocks are still holding up well. I am still trying to figure out the direction. On the surface, the logical conclusion is down but market internal suggests Hercules is holding up our market. I opted to stay on the sideline until there is a clear direction.