CNDR
Mike,
The volume here is key. Unfortunately, it's impossible to read: 400K changed hands at 10:45: a sale for 98K, a sale for 100K, then a buy for 200K. To my mind, that's what they call a market-cross: one market-maker selling to another. I try to mentally discount them from the calculation.
That leaves us with a hefty 238K+, which is about what you'd want to see here. Excessive volume might actually signal an exit, under the Volume+1 Exit Method.
All in all, a healthy cat.
Still, I'm probably going to wait till tomorrow, as there's news coming from some government report that I should know more about. If it's bad, with this jittery market, it could easily mark today as one of those ensnaring up-days that tend to come in the second half of corrections, and I'm ti-i-i-i-ired of getting my ass whipsawed by this market.
It doesn't look like this cat's going to run away without us.
Ivan |
