All Volume, But No Discount
In one of the best-looking setups in a while for the intermediate-term
trader, Centillium
(
CTLM |
Quote |
Chart |
News |
PowerRating) is breaking out of a 10-week base on massive
volume. Normal volume for the issue is roughly 500,000 shares daily, and CTLM
has printed volume of over 2 million shares for the third consecutive day.
Today’s spike on the breakout is the biggest to date, now nearing 3 million, or
600% average daily volume, at the time this is being written.
The issue has increased its revenues more than 2000% as of the
quarter ending in September 2000, but the volume spikes showing accumulation
accompanied with the price surge is what is telling me that the proverbial elephant might be
trying to slip into the bathtub.
Until tomorrow,
Duke