34 replies to this topic

[U.F.O.]

I wonder what RICHARD D. WYCKOFF would say to that chart I posted in the thread that got closed down. Was that chart an "Inconvenient truth"? And what's the big deal with RICHARD D. WYCKOFF? I never even heard of the guy until tonight and now he's the equivalent of Jesse freaking Livermore?

U.F.O.

[milbank]

Yeah.
Sans cute quotables, losing all he had and a sensationalized suicide.

Edited by milbank, 04 May 2008 - 09:19 AM.

[HoseB]

"... There apparently are a lot of people here who believe religiously in volume analysis and won't stand for any challenge to that belief system.... The bottom line for me is volume analysis doesn't work, except at market turns.... U.F.O.

I know it's heresy, but I agree. If you check past swing highs and lows, some come in with volume spikes. Others come in with low volume. I don't find volume reliable nor worth consideration even at "turns".

[securelstmile]

I read alot. The old masters and today's greats. I have long since come to the conclusion that most of what today's greats have discovered is just a reinvention of that which the likes of Livermore and Wyckoff had discovered long ago. I also find the style of writing of the older sages more enjoyable. But that is just me. I think it is all tape reading and there are many componenents and methods that all lead down the same road.

[U.F.O.]

"I think it is all tape reading and there are many componenents and methods that all lead down the same road."

secure, if I write a book can I include your quote? Good one.

HoseB, why does discussing volume make one a heretic? I do not get this.

U.F.O.

[HoseB]

"I think it is all tape reading and there are many componenents and methods that all lead down the same road."

secure, if I write a book can I include your quote? Good one.

HoseB, why does discussing volume make one a heretic? I do not get this.

U.F.O.

Not discussing volume, but rather denying the apparent significance of it. I suppose volume considerations may have relevance to individual stocks... but I've never traded those.

[U.F.O.]

"Not discussing volume, but rather denying the apparent significance of it."

If one denies the apparent significance of it why should one become a villain? Why is everyone so scared of this topic. I had e-mails last night from people you would know and respect agreeing with my position, but who didn't want to post accordingly because they had been lambasted by the volume clique in the past. That's wrong.

U.F.O.

[HoseB]

"Not discussing volume, but rather denying the apparent significance of it."

If one denies the apparent significance of it why should one become a villain? Why is everyone so scared of this topic. I had e-mails last night from people you would know and respect agreeing with my position, but who didn't want to post accordingly because they had been lambasted by the volume clique in the past. That's wrong.

U.F.O.

OK, you lost me. Your view is the same as mine. What's your question about heresy again?

[U.F.O.]

If you or I post here and say volume analysis is overrated we're considered heretics. Why? Because a few vocal members of TT hang their hats on volume analysis and raise holy hell when their belief system is challenged. Without volume analysis they have no schtick.

U.F.O.

[HoseB]

If you or I post here and say volume analysis is overrated we're considered heretics. Why? Because a few vocal members of TT hang their hats on volume analysis and raise holy hell when their belief system is challenged.

Oh... then trading IS like religion..