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Strategies & Market Trends : Point and Figure Charting

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To: Raven McCloud who wrote (9304)	11/5/1998 4:05:00 PM
From: Al Serrao	Read Replies (2) of 34810

Raven, absolutely. However this volume cannot be explained away by the shorts had to cover, the momentum boys ran it up, etc. A momentum player will generally enter a stock on a breakout when there is at least a 50% increase in volume. Stocks that have been dead dogs for long periods require much more in the way of volume to reverse direction. From the studies I have done it usually requires an increase of 200-500% in volume. IOM in the past three days has seen an increase of 700-800% in volume. Clearly something is going on. Now we have to wait for the 5/8 retracement. Hope this helps.

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