Volume only counts when checking out a chicks rack and the ass roundness. PS: Today was a classic one-way trend day. Good stuff.
Normally, I'd throw in a hedge at the support low but I was in a little too heavy and cocky and got spanked. Luckily I'm not over-levered.
Bought TZA at 21.40 Holding overnight. Expect a flat day tomorrow with a big sell-off on friday or a brief sell-of tomorrow
Went long SDS around 3:30 pm today. It's up nicely after hours. Will put on larger positions in QID on the open. The market is severely overbought, but I had no position into today.
Volume is incredibly important... especially when you're speculating with a big line you can only take it in when the volume is there. Transaction volumes also give clues as to the direction of the market, as the small lots tend to be on the feather end of the arrow... There are some traders out there still short (to my disbelief). Go over to xtrends, Atilla is still short and expecting a retest of SPX 666 (LOL).
Looks like a small majority of ET agrees with you. "Volume analysis of any use?" I believe in using volume analysis 53.17% I discard volume analysis in my trading 30.95% I really don't know 15.87%
The overall market can absorb any quantity of stock you own, but not many individual issues without severely affecting the price. I am of course, not talking about stocks where the market is extremely broad and the spread is a matter of a penny.