Momentum Daytrading - Tricks of the Trade Message Board

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Strategies & Market Trends : Momentum Daytrading - Tricks of the Trade

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To: Ken Wolff who wrote (840)	3/29/1998 10:21:00 PM
From: TATRADER	Read Replies (2) of 2120

Ken, maybe you can help me on a volume question... I purchased a stock for my private account on Friday called BULL.. Average volume of the stock is around 40,000 shares traded a day... The stock is rated A in IBD with Relative Strength... The stock has pulled back from an all time high recently of 4.25...The stock was sitting at bid 3 3/4 ask 3 13/16....I noticed volume gradually trickling up during the day, and so I hit it and got filled at 3.81, around 2:30 P.M. I had some other commitments and observed at market close 270,000 shares had traded and the stock was up to 3.87 on the close....This is an all-time number of shares traded in this stock..My question, without a Level II system, would this be accumulation, or distribution...And what would support your belief either way....Thanks....Mark P.S. My ADX and other indicators are crying distribution, but I am not sure on this since the low was not taken out two days in a row....

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