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AND....I used to follow Don Wordon. His acheived guru
status in the 60's/70's with his "tick volume"
analysis. I don't know if he's still alive but his sons
now run a successful charting/software service. He wrote
a compelling pamphlet about how the nature and character
of volume had changed over the years and why tick volume
had fallen into disrepute. Today the quality of volume
analysis is skewed by program trading, options activity,
foreign markets and 24-hr trading.
Chas
-----
On Fri, 23 Mar 2007 07:20:53 -0700
"Ira" <mr.ira@xxxxxxxxxxxxx> wrote:
> OBV used to be used in different ways. Granville had
>one use for it and Larry Williams (I think it was him)
>used a different formula to obtain what he called OBV. I
>don't remember the formula any more as I haven't played
>with it in years. I do remember that it gave better
>results than Granville's straight OBV,
>
> There was a theory in the late 60s and early 70s that
>you could judge how much volume it would take to move a
>stock an 1/8, 1/2 or point. On balance volume fell out
>of favor for a while after Granville predicted a massive
>bear market. The next morning the market dropped
>substantially and then it rallied and just didn't stop.
> After that Granville lost his ability to move markets or
>peoples opinion.
>
> That is as I remember it.
> ----- Original Message -----
> From: Zaitzeff@xxxxxxx
> To: realtraders@xxxxxxxxxxxxxxx
> Sent: Friday, March 23, 2007 7:05 AM
> Subject: Re: [RT] Thursday (3/22) SP500 Intraday Volume
>
>
>
> Hi Pete,
> Is the OBV a leading indicator for chg of trnd? or
>do you just use the absolute value ?
> Zait.
>
>
>
>
>
> ------------------------------------------------------------------------------
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>
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