Jackhatch - Early this morning I noticed your post regarding the need for increased volume in order for CMGI to break out on top (my words, not yours). I have been closely watching and investing in CMGI since January, pre-split, and I know that volume is not always necessary for a big jump in CMGI prices.
Just to see for myself, I gathered in the Date, Closing Price, Open, High, Low and Volume figures for CMGI for the past 120 trading days, set them into an Excel 97 spreadsheet, added some extra columns, etc. and did some analysis of the figures (which were taken from the Dreyfus Historical Pricing site).
Here are some interesting facts:
120 Days
Average Daily Volume: 3,468,341
Maximum Daily Volume: 15,474,000
Greatest Daily Gain: 51
Greatest Daily Loss: -47 47/16
Greatest Trading Range: 67.75
Lowest Trading Range: 5.00
There were 31 days when volume was equal to or less than 6 million shares and CMGI was up $5 or more from its open price.
There were only two days when volume was equal to or greater than 10 million shares and CMGI was up 5$ or more from its open price.
There were only 15 days when CMGI volume was over 6 million shares.
Of the top 10 Up days, only one had over 8 million shares, the rest were under 6 million.
The analysis did not account for opening prices bid up from the previous days close.
Today is an exceptional day for volume and appreciation. I hope the market can maintain the trend today.
If anybody wants a copy of the spreadsheet, e-mail me at chips7335@yahoo.com and will forward a copy.
Best to all
Jim |
