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Pastimes : Ask Mohan about the Market -- Ignore unavailable to you. Want to Upgrade?

To: John Hunt who wrote (13838)	2/4/1998 7:19:00 PM
From: robnhood	Read Replies (1) \| Respond to of 18056

John, I wasn't exactly aware of that, but I do give a lot of respect to it. russell

To: John Hunt who wrote (13838)	2/6/1998 11:31:00 AM
From: Cynic 2005	Read Replies (3) \| Respond to of 18056

John, somehow I missed reading this note earlier. If you want to follow markets on a day to day basis, you better pay attention to the volume also. Most recently NAZ volume is 800 mil/day and NYSE volume is 700 mil per day. Since for most days (with this high volume) the market moved strongly higher, if the follow-through buying is one 20% or lesser volume, you can almost be assured of a sharp pull-back. If you couple that with VIX (below 22) and put/call ratio (below 0.45) then we have an explosive mix of numbers to take the market down. IMHO. On the contrary, if the volume keeps-up, i take it as an indication of more market liquidity and there is no telling how high it will take the market. Needless to say I am not talking about fundamentals or earnings here. -Mohan