Volume As A Charting Tool

If you want to get poor quickly, base every one of your market purchase decisions on the day's volume. I.E. If the move higher today was on low volume it must be discounted or ignored. Many do, and they feed the kitty on a daily basis. Volume means nothing EXCEPT at turning points, and at turning points volume means everything. When you look at this chart I'm posting below notice how markets can move higher for months at a time on a falling volume moving average. (20 day ema) Beware of low volume intuitiveness, if doesn't work. Instead, watch for high volumes around exaggerated price actions. That's where maket turns occur. Low volume watching is a liability, not an asset. (1 chart)

U.F.O.

Whatever you don't know how to make work for you... Some of us use volume extremely effectively... especially that OEXCHAOS.

Why laugh at the face of truth? You don't like my premise, show me by example why I'm wrong. Let OEXCHAOS show me why I'm wrong. I've known Mark longer than you have and I know he's a fair guy. Ya'll show me how I'm wrong..... U.F.O.

My work speaks for itself. If you want a recent example, see the thread on DBA.

DBA - BULLISH SPRING SETUP

Edited by SemiBizz, 03 May 2008 - 04:25 PM.

Spend hours researching your stuff because you're too lazy to refute 1 chart? No thanks. U.F.O.

I posted the link for you.