Did you see that?Volume absolutely evaporated yesterday afternoon,... literally.
I absolute terms, volume died.
The stock had traded 1,420,000 shares in the first 5 1/2 hours of trading.
It had averaged 258,000 shares traded/hr all day up until 3:pm.
It traded 80,000 shares in the last hour.
The retreat from the highs yesterday wasn't caused by active selling, it was caused by what's known in the business as a "buyer's strike."
People were pulling their bids.
In light of what the markets were doing, and what the stock has done, that's hardly surprising.
Now that the futures are signalling that yesterday wasn't the beginning of a Hard Down, buyers won't be so trigger-shy this morning.
Yesterday attracted even more attention than the stock is aleady getting.
The volume was phenomenal.
Yesterday was a phenomenon.
Fasten your seatbelts.
You're about to go for a ride on the Space Shuttle.