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Non-Tech : OAKLEY- NYSE:OO
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To: giles who wrote (701)7/2/1997 10:21:00 AM
From: Dr. Jeff   of 1383
 
I don't agree with your assessment that down days on low volume is bullish. When a stock can drop significantly on extremely light volume, it is quite bearish actually. It means no buyers are there to support the price, meaning the price is perceived as being too high. Due to the extremely weak nature of "investors stomachs" no buying with quick declines excalates into more selling and even quicker declines. It also suggests that large blocks in the 14's were short cover's.
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