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TSX Venture Volumes = Too Low For Capitulation = No Man’s Land Right Now

Posted by AGORACOM at 11:17 AM on Monday, September 26th, 2011

Volume At Beginning Of 2011 Much Higher Than Current Levels

I’ve had a number of people call, e-mail or tweet me asking about what I’m doing in this wicked TSX Venture downdraft.  In short, I’m stalking and waiting patiently for new entries.

Aren’t Prices Attractive Enough Now?

For long-term holds, there are some beauties sitting out there …. Donner Metals is a screaming buy for example.

For short-term trades, I believe we are in no man’s land right now.  I posted my reasons to Twitter and won’t repeat here. I’ll just paste my comments in:

CONCLUSION – I’m not buying trading positions at these levels.  I’ll either buy lower on capitulation confirmed by volume, or higher on a break to the upside.   Buying trading positions at these levels is no man’s land.

Regards,

George

This entry was posted on Monday, September 26th, 2011 at 11:17 am and is filed under All Recent Posts, Trading School, TSX Venture. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.

2 Responses to “TSX Venture Volumes = Too Low For Capitulation = No Man’s Land Right Now”

  1. AGORACOM says:
    September 26, 2011 at 6:09 pm

    Justice, thanks for chiming in. I don’t see it on the daily at all … but open to learning a lesson.

    Weekly looks ugly.

    G

  2. Justice says:
    September 26, 2011 at 4:49 pm

    On the daily it’s looking like it wants to recover a bit , volume did pick up in the later half of the day…
    http://stockcharts.com/h-sc/ui?s=%24CDNX

    What is a little more frightening is the weekly chart which looks like it could push into the 1200-1300 range.
    http://stockcharts.com/h-sc/ui?s=$CDNX&p=W&b=5&g=0&id=p65747582523

    That dude over at BMR is looking at 1500s I think, but hey, we already there!