I really do not have an objective comparison for this statement, but there seems to be a large number of stocks hitting volume off the highs, both the initial screen and after my review. In addition, many of the companies making the cut are large-cap, well known names. It also seems to be in a broad mix of sectors including transportation, technology, energy, and retail. Does this mean anything going forward? Possibly? In any event here are the list of companies hitting volumes off the highs.
Clarcor- CLC
Cheniere Energy- CQP
Fedex- FDX
Georgia Gulf- GGC
Carmax- KMX
Louisiana Pac- LPX
Norfolk Southern- NSC
Suffolk Bancorp- SUBK
Skyworks Solutions- SWKS
Thermon Group- THR
These names do not necessarily indicate the stock is heading South, but in my experience a stock selling off on heavy volume after approaching near-term highs is an indication that the large operators know something. It is an indication of building selling pressure. The continuing list can serve as a warning to focus your research on holdings that may crack or inversely be a place to look for short candidates.
Clarcor- CLC
These names do not necessarily indicate the stock is heading South, but in my experience a stock selling off on heavy volume after approaching near-term highs is an indication that the large operators know something. It is an indication of building selling pressure. The continuing list can serve as a warning to focus your research on holdings that may crack or inversely be a place to look for short candidates.
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