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Strategies & Market Trends : Joe Stocks Trader Talk

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To: Joe Stocks who started this subject	2/2/2002 10:11:52 AM
From: Joe Stocks	Read Replies (1) of 787

Nas volume. Some say that if they could use just one indicator for trading stocks it would be volume. Two weeks ago on another board I posted about the nas volume that showed there were 7 time more down volume than up for that week. Now I have four weeks of Nas up/down volume. The week before last was the only week that we had positive net up volume. It was also the lowest volume week of the four. For the last four weeks we have had 11.6 bil up volume and 23.2 bil down volume. This is a two to one ratio. What I see is major distribution going on with tech stocks. For the last three weeks in the NYSE it's 8.1Bil share up and 11.9 bil down for a ration of 3 to 2. Last night I watched Washington Week in Review. A commentator that has attended the meetings in NY with hundred's CEO's said that although the reports we are seeing show signs of recovery the CEO's were not buying in it yet. I think we will drift lower from here near term. Joe

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