Hi brpnw1,
Monday, September 11, 2006, 10:29:40 PM, you wrote:
b> Also, no need to use volume (too innaccurate).
???
Okay ... I'll give back all my money then. I must have been doing
something wrong, (inaccurate?) all these years. ^^_^^
IMNSHO ... volume is like a lot of other indicators ... that is to
say, you can read/wish/imagine something into it that is not actually
there, and get yourself into a world of trouble as a result. However,
when volume speaks loudly, there is no question about its accuracy.
The only problem with it is that there are a lot of impatient people
who don't understand the importance of patience or the importance of
knowing when it's no longer time to be patient. Volume is also
time-frame dependent: on a day-by-day basis pretty tough to read
sometimes, particularly when some even half-smart people with a few
hundred million dollars or more are working themselves into a
position. But if you can't figure it out by either Saturday or the
end of the month, you aren't paying close enough attention --
particularly if there is much correlation between the volume of an
individual symbol and that of the market.
I'm sorry ... but volume is a critical indicator. Absolutely
critical. In fact, if you took all but one away from me, volume
would be the one I'd choose to keep.
Yuki (not responsible for those who cannot distinguish between
"elevated voice" and "LOUDLY" -- but the difference can be quantified
if one wants to work at it) ^_-
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