Stocks with extreme volume

There is clearly a panic in the market. Where is the bulk of volume movers concentrated- metals. Now what about the of repeated thesis, when there is panic you should buy gold! Market seldom works that way. The metals were in speculative frenzy for sometime and are experiencing a serious correction now along with rest of the market.

TIE,Titanium Metals Corp had a second consecutive high volume day. It had a dream run since its last 2:1 split. It had a more than doubled in a quarter. As I said few weeks ago, there was potential trouble ahead for this stock, as there was another split scheduled for this month. So this one had the warning coming.

GG,Goldcorp Inc is another one which is having high volume turnover. It had a extreme volume day just 9 days ago. This stock has gone up from 13 to around 40 in a year.
GLD,StreetTRACKS Gold Shares ETF is another speculative favorite. The NYT last week featured a gold investor with some wild theories and wild predictions about where gold is headed.

With gold trading at$683.80 an ounce, a 25-year high, it's a good time to be a gold bug like Mr. Sinclair, especially if, like him, you own a gold exploration company (his is in Tanzania) and were a buyer when the metal sank as low as $250 an ounce in 2001. Now Wall Street, traditionally a laggard when it comes to making the investment case for gold, has jumped on Mr. Sinclair's bandwagon.

His wild theory:

Indeed, his central thesis is that Goldman Sachs and other banks have conspired to keep a cap on the price via short sales to back the government's strong-dollar policy, especially while a former Goldman senior partner, Robert E. Rubin, was Treasury secretary in the late 1990's — is far-fetched.

With the price of gold surging, Mr. Murphy is convinced that Goldman Sachs, J. P. Morgan and others are frantically buying now to cover for the gold they sold short over the years. Goldman Sachs and J. P. Morgan declined to comment about their gold trading positions or strategies.

"What a day," Mr. Murphy said one day last week as gold broke through $670. Goldman Sachs and J. P. Morgan were big buyers that day on Comex, the division of the New York Mercantile Exchange where gold contracts trade. Sputtering at the joy of it all, Mr. Murphy could well have been a prospector hitting the Mother Lode. "These guys are short, and they are panicking to get out of their positions," he said. "They are sweating bullets, and it couldn't happen to a nicer bunch of guys."

When New York Times put these kind of whackos on its pages, you should be clearly worried about the gold market direction.
The other significant thing in this list is the country/ sector funds taking a big tumble on high volume like the CEE,The Central Europe & Russia Fd , IFN,India Fund PWT ,PowerShares Dynamic Small Cap Growth Portfolio ETF.

CEE,The Central Europe & Russia Fd
GG,Goldcorp Inc
GLD,streetTRACKS Gold Shares ETF
IFN,India Fund
PWT,PowerShares Dynamic Small Cap Growth Portfolio ETF
QRCP,Quest Resource Corp
RNE,Morgan Stan Dw Eastrn Eu
SBKC,Security Bank Corp Ga
THLD,Threshold Pharmaceuticals
TIE,Titanium Metals Corp New
XHB,SPDRs Homebuilders ETF
XNN,Xenonics Holdings Inc

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