I know with the broarder market when you see massive volume of trades it tends to coincide with market bottoms (i.e. what we saw inparticular in October) although in the Australian market clearly the October low has clearly broken support.
Remains to be seen if the Dow will break the Oct 10th Intraday support of 7800. I guess we will find out over the next few nights/weks if its a double bottom.
Just wondering is there any correlation for market bottoms in individual stocks such as OZ and masive volume in that stock as we have seen over the past few days.
I am interested in what the volume was at particular highs in this stock and lows in this stock.
Do you think it will be a U shaped bottom or V shaped?
Is there information on the Web that has a history of trading volumes by day for a stock like Oz.
Learning an incredible amount from this market as before I was purely an investor that based decisions on fundamentals. I now see the value of at least some technical analysis.
Planning on at least pulling half my funds out, if I have some left, by June to Dec 2012 but would like as much information as possible to determine market and individual tops and bottoms like double tops and bottoms, Head and shoulder patterns ect.
Don't ever want to go through this again and planning on doing my best to ensure I don't.
If there are any good tactical analysis books please advise.
Thanks
OZL Price at posting:
$5.25 Sentiment: LT Buy Disclosure: Held
