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Strategies & Market Trends : Technical Analysis - Beginners
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To: Lee Lichterman III who wrote (8308)4/21/1998 12:18:00 AM
From: big run  Read Replies (1) of 12039
 
L3....one thing that is key for me is volume. what helps me decipher all those little ticks at the bottom of the screen is to color code them. simply, when volume is greater than the 21ma and the close($) is greater than the previous day i paint the bar green. when volume is greater than the 21ma and the close($) is less than the previous day i paint the bar red. if either of these don't occur then the bar is left black. this helps me to visually see the selling and buying pressure more easily.

if you set this up and look at COO you'll see alot of red beginning with feb. on pullbacks i personally don't like to see this much red. more of a selloff.

i don't use many indicators so i've learned to rely on volume as the second most important guage of direction. not always right, but enough to keep me going.

hope it helps.

mike
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