Question for the traders on the thread.
Why, after coasting along on low volume for days, do stocks sometimes shoot up on no news, not just in price, but in volume? Take TCMS today, for example. Up by about 8%, on volume of close to 700,000. The average volume for TCMS is only about 139,000 (and median volume is closer to 75,000). True, on April 30, volume was even higher (1,173,800), but there was news (earnings), and the price actually declined slightly.
So -- what's going on behind the scenes? Why, on this one particular day, with nothing to distinguish it from any other day, does everyone rush to buy a particular stock? Are we dealing with some sort of telepathic communication here, as in a herd of cows on the verge of stampeding?
Of course, TCMS has nothing on Xybernaut, which today rose by 184.21% -- yes, 184.21% (that was not a typo) -- from about $3.00 to almost $8.50, on volume of 25,702,000 (average volume: 258,863)! But then, Xybernaut had news to announce. Besides, it has a -1166% profit margin (yes, that was a minus sign), which is apparently the kind of thing investors like.
Still Looking for Logic,
jbe |
