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Jim,
I agree that volume indicators are not reliable enough upon which to base trading decisions when it comes to large cap stocks (e.g., DJ-30, SP-500, NDX). However I find they are very good indicators when applied to most mid-cap and small-cap stocks that have decent daily volume (> 50k). For daily charts I use the following formula Cum(V * ((C - O)/(H - L))). For intraday analysis I almost solely rely upon On Balance Volume (OBV).
To: realtraders@xxxxxxxxxxxxxxx From: jwhite43@xxxxxxxxxxxx Date: Wed, 2 Apr 2008 07:59:16 -0800 Subject: Re: [SPAM] RE: [RT] sp 500 whats next
Ben,
My research has shown indicators based on volume are not reliable enough to base trading decisions on. Could you give us some hints on why this indicator has been reliable?
Jim White Pivot Research & Trading Co. PivotTrader.com
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