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Technology Stocks : Amazon.com, Inc. (AMZN)
AMZN 250.24+0.3%Nov 5 3:59 PM EST
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To: Mama Bear who wrote (114510)1/5/2001 11:17:17 PM
From: craig crawford  Read Replies (1) of 164684
 
Oh and another thing. Those eight out of the top ten heaviest volume days on the Nasdaq ever all coming on October 18th and later were all down days except two. The record 3.1 billion we did on Wednesday was obviously one of the two up days. The other up day was on 12/21, the day we short-term bottomed at 2288. We had a decent rally following that heavy volume day. (I believe the bottom for the Nasdaq was 12/20-12/21, not Wednesday when we hit 2251. The broad market clearly bottomed 12/20-12/21 two weeks ago).

You can draw whatever conclusions you want from this data, but I think it shows that the market has strengthened ever since 12/20, with two of the heaviest volume days recently marking bottoms. Only two of the eight heavy volume down days since October 13th have been after the bottom of 12/20-12/21. That was 12/29, the last trading day of the year, and yesterday when we did 2.6 billion on the 50 point pullback. Incidentally, those two heavy days that marked an important bottom on 12/20-12/21 were heavier volume days than 12/29 and 1/04 (yesterday).

For all the negativity and fear mongering spewed by the bears today about how this was some sort of important reversal to the downside, I would bet that today's volume wasn't even in the top 25 heaviest days of all time.

The bears best hope is that the slide intensifies on Monday on heavy volume. That would be bearish.
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