remove the emotion and look at the volume

I commented that the volumes traded in GDN had been low for quite a while. This seemed to relate to the relative inert news flow from drilling.

Thursday and Fridays volumes were nothing to write home about either.

However it is interesting to note that on a morning when emotions are still running high, GDN still has only traded a low 9million shares or $540K worth.

I would hardly suggest this is indicative of smart money sentiment in either direction.

When you take into account that approximately 21 million shares were traded between 5.9 on tuesday and Fridays close, it becomes aparent that todays activity would more than likely be dominated by those that have enetred during this period.

So what are the volumes traded telling me? - GO BACK TO SLEEP!

Despite some of the emotions flying off and around the place I don't realy see anyone getting in or out at this stage.

When it moves in one direction or another on serious volume, then I will pay attention.

Experience tells me though that if negative sentiment in public forums does not result in high volume sell offs, then the chances are the building is still in tact and the foundations are there for further gains.

Looking for buying to come in shortly.

IMO