Gary Wisdom, thanks for the time, price data...
Ok, here's the time and sales by hour for the entire past week. Now, anyone who doesn't think Friday was very positive please check out the huge volume in the last two hours when the price finally hit $90. Maybe a lot of stop loss orders got taken out. But 12MM shares in 2 hours preventing Dell from falling further shows that the institutions were loading up on the stock.
To augment your data, I have reviewed yesterday's chart. (Please check my work.) It appears that 90 had not been penetrated until 2:50pm, yielding 1hr 10mins of =<90 trading; the associated volume looks more like 8.2M. (Granted, 8.2M ain't no small potatoes. As you mention, stop orders may have contributed.)
I raise the volume issue b/c it relates to your earlier post, wherein you use "90" as your divisor for +/- cash flow. I am interested to understand why 90 is used, given that it represents roughly 28% of the daily volume. The reciprocal 72% falls between 96-90.
I earnestly seek to understand your model, and appreciate any guidance.
Regards,
Alan |
