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Strategies & Market Trends : Three Amigos Stock Thread
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To: Sergio H who wrote (9274)10/3/1998 11:10:00 PM
From: Doug R  Read Replies (1) of 29382
 
Sergio,

Also, although volume is a very useful tool, using it in combination with chart patterns and other technical doodads is important. This is why I stress volume verification on the retest of a MIMBO. The pattern isolates a stock that is moving from low volume and out of favor to avg. volume and in favor. As the pattern progresses it becomes a high volume momentum play with a specific price target for exit.
The stairstep pattern also starts from a low volume, unknown condition of a stock that moves into an avg. volume breakout of a subsequent chart pattern.

AND, as always, overall market conditions (bull, bear, flat) should be taken into account.
An academic study using only volume needs more spice IMO.

Doug R
PS; SPYG is a low volume out of favor stock that has moved closer to avg. vol as it confirmed a MIMBO retest.
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