James, A Quadruple Bottom or SERIOUS OVERHEAD SUPPLY?
This range, b/w DOW 11,200 - 10,410 becomes a brick wall of
resistance if we take out 10,410. I again bring up 3 of the 9
heaviest trading days in April were in this range:
Message 10830389
VOLUME ALWAYS PRECEDES PRICE OF STOCKS (yes, even with 4 month
lags).
And 4 of the heaviest trading days ever recorded on the NYSE were in April of '99:
Heaviest Volume days ever on the NYSE
Volume Date
1,216,325 9/1/98
1,213,763 4/19/99
1,201,347 10/28/97
1,150,172 6/30/99
1,114,368 10/8/98
1,088,806 4/15/99
1,022,181 10/16/98
1,001,926 4/29/99
1,001,752 4/16/99
986,640 1/6/99
I think there are some who totally misjudge me. I am not reporting
this to raise fear, only awareness. I am reporting facts. And the
fact is, the market is not a riskless venture. I report this for the
little guy who may be thinking of getting in - to wait for that
break. Hell, the resident traders don't need help. They do fine on
their own accord. It is the latecomers to the party, the small-cap
investor, hell everyone except the 30 large cap stock investors who
are getting whacked. Let them make their own decisions of their own
accord. Not conform to blindness of bulls who thinks market goes up
forever. Or blindness of bears who think market goes down forever.
Best, J.T.
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