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Microcap & Penny Stocks : TSIS: WHAT IS GOING ON?
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To: John S. Baker who wrote (4980)1/6/1999 9:03:00 AM
From: jmt  Read Replies (1) of 6931
 
John:

Thanks for the lesson. In reviewing the 2 charts you highlighted showing OBV and MFI, comparability is difficult. One could manipulate what they want to see in OBV based upon the time period selected (which is the problem with many statistical sampling techniques).

The reason why this seems important in this case is the obvious end of year distortion in the MFI chart. Since MFI is not "smoothed" as is OBV, they appear to be giving two opposite indications, when in fact they may not be.

ADI looks to be an interesting measure, but as few stocks with a market of $50M have institutional ownership, I would assume this is more appropriate for larger cap stocks.

Have you considered in the ADI calculation using a percentage of shares outstanding rather than some absolute value? This may adjust for variations in total shares outstanding and share price, and possibly could even be used to show lower level (retail) accumulation in the penny stocks.

Thanks for your insight.

jmt

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