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Biotech / Medical : CMTR-CHEMTRAK FDA OK
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To: DeadHead who wrote (284)2/4/1997 3:17:00 PM
From: Kip518   of 1172
 
Gordon, I meant neither of the definitions you suggest < ... that CMTR has the greatest number of shares outstanding in comparision to
the other 450 companies you're watching? Or is it that the stock is distributed among the greatest number of investors? >.

The accumulation/distribution indicator in AIQ is computed as follows:

Accumulation/Distribution is a single value indicator that weighs buyer dominated volume (accumulation) against seller dominated volume (distribution). It is computed as a running total of weighted volume. A weighting factor derived from price action is applied to the days volume and the result is added to the accumulated total. The weighting factor, which ranges in value between +1 and -1, is a measure of accumulation and distribution pressures.

The volume weighting factor is determined from the closing price in relationship to the intraday high and intraday low. If the closing price is midway between the high and the low, then accumulation and distribution pressures are balanced, and the factor is zero. If the closing price is equal to the day's highest price, then the accumulation factor is 1.0. If the day's closing price is equal to the intraday low, then the accumulation factor is -1.0, which indicates distribution.

Basically what this tells me, is that of the 450 stocks in my database (which is heavily over-weighted with NASDAQ stocks) CMTR, more than any other over an extended period of time has had the greatest portion of its volume below the mid-way point of it highs & lows each day....i.e. most of the transactions are selling (distribution).

Hope this help explain what I meant.

Ron
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