(This is not Turtle Trader or Trend Following blog. All stock and strategy mentioned in this blog do not represent buy or sell. This is my digital diary to express my thoughts and opinions about the world of investing. Ultimately, you will be responsible for your own decision. Please consult your investment adviser before taking any investment position).
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.
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