Originally Posted by
kimmd
Mike-
Just wondering why MNST didn't trigger today on your volume breakout screen. Marketsmith shows a volume today of 913,000 which qualifies as a 10 day pocket pivot plus price <4% above the 10 day ma and up in price. Just wondering as my HGSI charts picked it up.
thx
-kim
kim,
Volume reporting from different sources results in different numbers. One would think it would be simple to count trades but apparently not. This only makes a difference when volume is close to a threshold. The source of volume used on Pascal's site is not MarketSmith and shows end of day volume of 816,273 versus a threshold volume of 878,136 a small miss. My eSignal platform also showed a volume alert with volume of 914,317 (also different from MarketSmith).
Another case of tiny variations in volume reporting having a large impact on trading is associated with Follow Through Days and distribution days. These are cases of looking for volume higher than the day before: different volume reporting sources coming up with different answers.
We can't use MarketSmith in real time to answer volume questions as the volume service is 20-minute delayed, so we result to a real-time data feed. There are very few instances of a volume alert on eSignal for example not agreeing with the EV site alert. You found one of them.
I used to fret over volume reporting being different from different providers. Now for FTDs and Distribution days I run with MarketSmith and for real-time volume vs. threshold I use the EV site or eSignal.
Mike Scott
Cloverdale, CA
Posting Permissions
Reply With Quote