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  • onepoint272 onepoint272 Dec 7, 2012 2:59 PM Flag

    OP... ? Theory on light volume today...

    It's been going up Tuesday thru today, Friday, on lighter and lighter volume with clustered closes against Monday's selling bar. I'm thinking it'll fade but it has to take out 7.91 with more than 1M shares to be bearish. 7.91 is the low of the buying bar of Nov 28th.

    The selling appears to have dried up over the last couple weeks and it is building cause. My bias is that this TR is accumulation and not re-distribution. We have big block trades at 8.03 and 8.20. The light volume today shows a lack of demand but I think it'll find demand / be defended at those block trade prices or 7.91. But I'm not sure of that; all I can do is wait for a test and see how it reacts. Right now it's in the middle of nowhere and there's nothing to do but wait for the tape to release information, imo.

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