Technology Stocks & Market Talk With Don Wolanchuk Message Board

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Strategies & Market Trends : Technology Stocks & Market Talk With Don Wolanchuk

SOXL 42.02

-3.8%

Dec 31 4:00 PM EST

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To: moorso who wrote (2549)	5/11/2002 10:54:38 PM
From: Smooth Drive	Read Replies (1) of 207522

We look at the daily change in price, up or down (+ or -). And then begin manipulations with volume. It's its strength, and, I think, its major weakness. The OBV is very useful, but it too only looks at the close; up or down, (+ or -). Say a stock opens a buck below yesterday's close. Then, on strong volume, closes up 98 cents from the open. With OBV and the current clx, this is a down day. A negative volume day. I don't think so. Or, a stock opens a buck above yesterday's close. Then, on strong volume, closes down 98 cents from the open. With OBV and the current clx, this is an up day. A positive volume day. I don't think so. I believe Chaikin's work took volume and price a number of notches above the OBV. I've substituted his accumulation and distribution formula in one clx ss and his money flow in another. Keeping all other aspects of the clx the same, the signals appear much much better. Try it and see what you think. Eric

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