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  • nvest80 nvest80 May 21, 2009 5:09 PM Flag

    no volume!-.38? shorts fail again..

    benzo,

    Those same words were told on May 8th and low volume days on other equities prior to a big drop. Take a look at the following volume in DNDN from 2007.

    8-May-07 17.15 17.90 16.75 17.74 24,765,200 17.74
    7-May-07 20.65 20.87 17.77 17.92 27,641,000 17.92
    4-May-07 19.71 21.81 18.51 19.39 46,770,500 19.39
    3-May-07 17.71 18.53 17.71 18.48 26,044,400 18.48

    What do you think happened next? Sure, 24 Million is alot more than what we have now, but decrease in volume and a down day like we have could mean the absolute opposite of what you believe it says.

    Here is how DNDN closed in the days after...

    21-May-07 6.55 7.24 6.27 6.80 43,804,300 6.80
    18-May-07 6.22 6.42 6.02 6.07 18,053,100 6.07
    17-May-07 5.98 6.57 5.94 6.38 25,914,000 6.38
    16-May-07 5.62 6.15 5.56 5.99 26,659,900 5.99
    15-May-07 6.22 6.24 5.55 5.69 22,535,000 5.69
    14-May-07 6.45 6.65 6.11 6.18 42,241,700 6.18
    11-May-07 5.13 6.29 4.95 6.11 72,276,100 6.11
    10-May-07 5.75 5.82 5.17 5.54 68,516,700 5.54
    9-May-07 7.31 8.00 6.27 6.33 131,406,100 6.33

    At this low volume, all it takes is a Fund deciding to cut their losses from an entry price above $22 and this could tank. Of course they wouldn't just dump all their shares, it would be dumped in a systemic fashion - for a while...

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