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To: Chip McVickar who wrote (4611)	11/14/2000 2:11:37 PM
From: Patrick Slevin	Respond to of 8925

Volume studies seem easier to do for stock work. Exactly. I tried charts on commodities with on-balance volume, it was a washout. Much easier on a Daily Chart and with a solid stock, like a General Electric or some other widely owned issue. Did not know Granville created OBV. Have you read Chaikin's book? I seem to recall that I have it, but it must be buried in a stack somewhere. I need a librarian to straighten this place out. Again, though, that would have been a quick scan for me as more pressing would be literature on Futures. I see your point further about World Markets, as so much happens during Market Opens and Closes in the overnights. In a slightly perverse way it's another facet that makes Futures so fluid compared to Equity trading, as one does not see the market shut down until Friday and back it comes on Sunday. Never having a break, your mindset stays tuned 24 hours a day. The real key for me in terms of Volume is to get a rough feel of when the Front Month should be rolled. For most contracts that is fairly self evident. Crude Oil is one of the exceptions. Well, now that you and I have convinced me, I can get that out of my system. ---------------------------------- El Bondo trade working out well. Snapped it up two ticks off the Low. At 99^25 it's almost hit my Intraday Target. I was hoping that would not happen, for if it does my methodology is to take profits. I cannot see it hitting 99^31 by 3 Eastern though. Maybe the best thing would be to leave the house until the market closes so I do not have to watch.

To: Chip McVickar who wrote (4611)	11/14/2000 6:36:06 PM
From: Ally	Read Replies (1) \| Respond to of 8925

>Not readably available to the individual trades of currency and commodity markets. Except for end of day and further out, I don't believe there's much available to small players. Perhaps a full service broker would allow access to volume work they have on line..?< I wonder if full service brokers have integrated volume data for stocks that are multi-listed on different exchanges... some beyond North America.

To: Chip McVickar who wrote (4611)	11/15/2000 2:21:55 AM
From: Michael Watkins	Read Replies (1) \| Respond to of 8925

I've personally found little use for OBV and such indicators on stocks or commodities. OBV: If Close[0] > Close[1] Then OBV = OBV[1] + Volume Else If Close[0] < Close[1] Then OBV = OBV[1] - Volume Else OBV = OBV[1]; End; Or in english, add the volume to the previous total if Close is higher than yesterday's close; subtract if lower; assign the same value as yesterday's value (no net change) if the close was the same. Pretty simplistic, all or nothing approach. As a result the indicator plots in a manner similar to price to some degree. I don't have the formula for VAO, thought I did. I seem to recall running across some Chaiken stuff in my system trading daze - wasn't it taking a percentage of volume and assigning it to the indicator based on where in the bar price closed at? That intuitively sounds better... ... although I prefer unvarnished volume bars to indicators. Certainly on stocks but even on the ES/SP/NQ/ND -- though all we have is tick volume, it still is often an aid to analysis. Having said all this, I do have some index charts where I plot Cumulative Volume (up vol and down vol) on the daily charts and sometimes find it interesting if not always useful.