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This is bunk. Anyone remember Joe Granville? Granville is the man to whom
we attribute this quote: "Volume is the steam that makes the choo-choo go."
Like all populist market gurus Granville quickly fell out of favor as a new
cycle made his predictions inaccurate, but this one populist quote has had
staying power. There are too many VERY successful daytraders who use
nothing but price and volume to make highly profitable decisions on entry
and exit for volume to be nothing more than coincident. Too many useful
technical indicators - useful in both following and predicting trends -
incorporate volume for it to be categorically dismissed by anyone.
I fully support the concept of contrary thinking, but there's a fine line
between being contrarian and being oblivious.
Paul Szilassy
-----Original Message-----
From: Brad D. <btwj@xxxxxxxxx>
To: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
Date: Friday, October 30, 1998 11:17 AM
Subject: Re: VOLUME DISCUSSION ANYONE?
>
>
>In an article at his web site, Steve Briese makes an argument that
>volume is a coincident indicator -- it has no value as a price
>predictor. He goes on to say that volume is coincident to volatility,
>and that open interest has more predictive value. This is covered in
>his "Subscribers Guide", here's the link:
>
>http://www.bullishreview.com/subguide.html
>
>Brad Dingee
>
>
>> charles meyer wrote:
>>
>> > Anybody else have anything relevent to post on
>> > this subject?
>> >
>> > Charles
>>
>>
>>
>>
>
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