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Non-Tech : MB TRADING
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To: kaz who wrote (3557)1/30/1999 10:37:00 AM
From: TraderAlan   of 7382
 
Paul,

Generally agree with you on MACD. But when price leads OBV, the more common outcome is for price to pause into a congestion area rather than fall, while accumulation continues to build and the divergence dissipates.

OBV can't be used on intraday charts at all. The distortion created by first and last hour volume peaks screws up everything in-between. Also on thinner stocks, single blocks will destroy meaningful plots.

Finally since NASDAQ double counts transactions, there are purists who won't touch OBV on this market in any case. Personally I think it has value on NASDAQ (in longer time frames) but don't trust breakout or breakdown patterns I see on the indicator nearly as much as NYSE.

Alan
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