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Technology Stocks : Gemstar Intl (GMST)
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To: MulhollandDrive who wrote (2148)3/1/2000 1:38:00 AM
From: spiral3  Read Replies (1) of 6516
 
bp: OT but I have never seen any data that confirms this. fwiw: a little voodo if it interests you.

Negative Volume Technical Indicator

Definition
Negative volume index (NVI) is based on the theory that trading by unsophisticated investors occurs predominantly on days of high volume while sophisticated investors trade during quieter periods of declining volume. Thus, a negative change in volume reflects buying and selling of stocks by those "in the know".

NVI is calculated by adding the stock's percentage gain or loss to the previous value whenever the volume drops from the preceding period. Usually, stock prices drop whenever the volume drops. However, when the stock price rises on lower volume days, it is considered very positive.

Interpretation
If the NVI is trending upward, probability favors the stock's continuing to rise.
If the NVI is trending downward, it is ambiguous.

Here is a one year chart for GMST. tscn.com

Disclaimer
Be aware that technical analysis is not foolproof and frequently produces bad signals. They should not be used as an automated buy and sell program but as a tool to enhance your probability of holding winning stocks. All technical analysis is based on mathematical calculations and, as such, no investment decision should be based solely on its conclusions.
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