Volume studies seem easier to do for stock work.
Exactly.
I tried charts on commodities with on-balance volume, it was a washout. Much easier on a Daily Chart and with a solid stock, like a General Electric or some other widely owned issue. Did not know Granville created OBV.
Have you read Chaikin's book? I seem to recall that I have it, but it must be buried in a stack somewhere. I need a librarian to straighten this place out. Again, though, that would have been a quick scan for me as more pressing would be literature on Futures. I see your point further about World Markets, as so much happens during Market Opens and Closes in the overnights. In a slightly perverse way it's another facet that makes Futures so fluid compared to Equity trading, as one does not see the market shut down until Friday and back it comes on Sunday. Never having a break, your mindset stays tuned 24 hours a day.
The real key for me in terms of Volume is to get a rough feel of when the Front Month should be rolled. For most contracts that is fairly self evident. Crude Oil is one of the exceptions. Well, now that you and I have convinced me, I can get that out of my system.
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El Bondo trade working out well. Snapped it up two ticks off the Low. At 99^25 it's almost hit my Intraday Target. I was hoping that would not happen, for if it does my methodology is to take profits. I cannot see it hitting 99^31 by 3 Eastern though. Maybe the best thing would be to leave the house until the market closes so I do not have to watch. |
