teletubbies thursday, page-148

Hardball

I know McLaren never looks at an indicator and it is just price action and volume, and he is one I respect.

I do just chart daily volume and is one significant indicator.

I don't have intraday volume but wish I did.

I used to laugh during the US 2000/3 bear as they would repeat the mantra of the market was down but volume wasn't huge as though that was a good thing.

What they were saying really was that there was no capitulation.

As I understand it volume spikes can be an initial impulse move after a change in trend but during a trend are capitulalion or euphoric moves and likely to be a sign of retracement.

I don't pretend to be much of an expert in the volume arena and I am sure others are more wise.