Distribution Warning: Stocks Being Sold on Heavy Volume

Not only are they among the day’s biggest losers, but they’re also being sold on massive volume…. some salt in the bearish wound. It could be a sign of institutional selling, and/or an indication that the market has transitioned to a net bearish opinion on these names. Either way, today’s high-volume losers are Cree, Inc. (Nasdaq: CREE), Vodafone Group PLC (Nasdaq: VOD), New Oriental Education & Technology Group (NYSE: EDU), Canadian Solar Inc. (Nasdaq: CSIQ), and HSBC Hldgs. PLC ADS (NYSE: HBC).

Results so far:

• Cree, Inc.: down 6.7% on a 654% volume surge
• Vodafone Group PLC: off by 2.3% on 549% more volume than normal
• New Oriental Education & Technology Group: lower by 2.7% on 511% more trading activity than usual
• Canadian Solar Inc.: down 2.7% on a 471% increase in trading activity
• HSBC Hldgs. PLC ADS: Lower by 2.1% on 434% more volume than the average