Wal-Mart Tumbles Again On Monster Volume

em>Joel Elconin is the co-host of

, a daily trading idea radio show.

Wal-Mart Stores

shares are trading lower by $1.15 at $68.33 in Wednesday's session. The current loss coupled with its $2.43 from Tuesday's session resembles the two day tumble it had in May (falling from $79.92 to $75.90) following a disappointing Q1 report. The issue shed another $4 to $71.91 over the next quarter, when another disappointing earnings report for Q2 has the issue firmly under $70. After a low open ($68.87 vs. Tuesday's close of $69.48), it managed a brief pop but found willing sellers ahead of the close at $69.30 before resuming its decline. So far, it has reached $68.36 and continues to makes new lows for the session. The current low coincides with its February 20, 2013 low ($68.30), which was put in place when the issue was embarking on its run to its all time high that was made in January at $90.97. Also, Wal-Mart is on pace to for another monster day of volume as institutions flee the issue.