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Ben, Earl, & Group:
The most striking aspect of
> this huge rally is the lack of volume and failure of OBV to confirm the
> rally - this is especially noticeable in the S&P futures and SPY.
Anyone out there who has been able to solve the riddle of the inter-
relationship between price and volume? I am a Wyckoff student--before
that a Don Wordon student. I have a great file on volume information
but am baffled and confounded by Earl's observation; have been for a
long time. The Wyckoff explanation just doesn't seem to work in real
time--volume can be very misleading. I always wanted to believe Joe
Granville's statement that 'price leads volume' but can't get a handle on
how to trade it. Perhaps the best answer, from someone I respect, was
the idea that I put too much emphasis on volume. Seems it is so easy
to manipulate volume and the stats are skewed by program trading and
option activity. Comments?
Charles.
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