WiseMan, 5 July tumble was reasonable, 2%, but it won't satisfy Myron Kandel who wanted it to fall from 4600. Has to drop another 20% to be worth calling it a cruncher. From what I hear, about half the people who sold shares 5 July were thinking there was little point in keeping their shares, so sold, expecting declines. The other half bought them thinking they would pay reasonable dividends and increase in value. So perhaps fear and greed are evenly balanced.
It seems to me that since every buyer has a seller, it must be that the two are ALWAYS in balance. But one half are right and the other half wrong.
When the Nasdaq was at 1000 only a few months ago, the buyers and sellers were equally in force then, but the sellers were wrong [so far]. How to tell which half are right?
Share volume is, as you have said, a factor. Bumping along the bottom, with few buyers and sellers, must be one of the identifying hallmarks of a GOOF. Since share volumes for the total market are way, way up, it must be that we are in the peak phase of an overall GOOFstockmarket.
On the other hand, maybe there are just more shares available, and people are actually better off, investing instead of spending.
Not being one to sit on the fence and watch my neighbours weeds, old cars and computers [I have plenty of those myself], I am betting the farm on continuing increases in Nasdaq, Dow and economies in general and Qualcomm, Globalstar in particular. But keeping an eye out for lonely GOOFS lying on the sidelines.
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