Travisnye what are your thoughts about this week's volume of 2,815,500? With the exception of Wednesday everyday this week was over 400,000 shares. Wednesday's volume was just a fraction under 400,000.
As I had mentioned in a previous post a majority of the 400,000 plus days in the last year were on Wednesday and Thursday. It was very rare to have a Monday or Friday with heavy volume, yet this week both Monday and Friday were over 400,000.
I did notice very few of those phantom trades such as 448 shares, 357 shares or any other abnormal amount. I do believe this week's volume is setting us up for a very wild ride. We either had heavy short action or heavy short covering.
March 11th after 4 PM will be a very telling time when the latest short interest is published. This will cover the time period of 02/16 - 2/28.
Based on the last 3 days of that period, it could be a hint of what this week's action was all about.
Only time will tell. Either way I would say hang on for a wild ride.
| Feb 28, 2013 | 0.80 | 0.86 | 0.77 | 0.79 | 848,300 | 0.79 | | Feb 27, 2013 | 0.79 | 0.80 | 0.74 | 0.77 | 378,400 | 0.77 | | Feb 26, 2013 | 0.70 | 0.78 | 0.70 | 0.74 | 612,600 | 0.74 | |
