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To: wayne who wrote (4071)10/23/1999 1:24:00 AM
From: E. Davies  Respond to of 17977
 
What about if the trade price is higher or lower than the previous one then the volume is up or down respectively?
It is possible to have dropping prices while still having trades occuring at the bid. This happens when sellers are trying to step in front of each other to get out. It can also happen when both the bid and ask have shifted down without a trade. Is this bullish or bearish? Dunno.

Bottom line is that you end up with a different measuring tool, but it seems to me one is just as accurate (or inaccurate) as the other.
Eric