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Cliffs Natural Resources Inc. Message Board

  • southbuckeye southbuckeye Apr 30, 2013 3:06 PM Flag

    Volume Tells The Tale

    Yesterdays volume was the lightest in five weeks. Todays is average. Hopefully the days of a declining share price coupled with heavy volume are a thing of the past, and short sellers will orderly exit their positions over the next few weeks.

    Sentiment: Buy

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    • While true (only five days in the last five weeks traded less than 10 million shares).
      What is it telling you?

      Starting Jan 1 of this year it traded under 10 million shares for 29 straight days.
      Not a lot of interest part of price discovery?

      There was no capitulation on the April 18th low. Biggest volume this year was march 27th decline (51+ million).

      With only those data points we go down to retest the lows with large volume as longs give up on the name.
      Did that already happen on March 27th? Maybe. But we broke to new lows after it. We go there again I will be buying as many shares as I can.

      Should be fun to play this game. Place your bets.

      Sentiment: Hold

4.73-0.06(-1.25%)Mar 27 4:03 PMEDT