today's one of those days I can watch the market intraday (its a
Canadian holiday today!) while it trades. So normally, i
never am able to watch my breakouts occur. So my question is,
do you have a general rule of thumb to see what is "taking
volume"? Since most of the volume often occurs at the
market open or close, it's sometimes hard to see how its actually
tracking.
Right now, i see AXAS at about 300k volume (relative to a 60 day
avg of about 600k). Since it's only 10:25AM EST, that would
seem like OK volume. Or would you rather see the full 100% of
avg volume be done by morning (and 200% by the close)?
jeff - a lot of the stocks break out in the afternoon or
morning, not all in the morning. If they are in the morning,
see a 5 min chart, look at the volume candles, etc, look at
Level 2, see the bids/asks, etc stuff like that if it breaks out in
the morning. look at the tape, you should be able to get a
feel for it
Your analysis on the AXAS volume is just fine. Some services
offer a percentage volume function that makes it even easier.
Often, volume will also come in simultaneous with a breakout.
The tough thing today is the large gap up in the market and
how much buying may remain. Currrently, AXAS is testing resistance
and may be forming a bull flag on the 5 minute chart.
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volume
AXAS (new)
Posted by riskmanagerjeff on 2nd of Aug 2010 at 10:26 am
Hi steve,
today's one of those days I can watch the market intraday (its a Canadian holiday today!) while it trades. So normally, i never am able to watch my breakouts occur. So my question is, do you have a general rule of thumb to see what is "taking volume"? Since most of the volume often occurs at the market open or close, it's sometimes hard to see how its actually tracking.
Right now, i see AXAS at about 300k volume (relative to a 60 day avg of about 600k). Since it's only 10:25AM EST, that would seem like OK volume. Or would you rather see the full 100% of avg volume be done by morning (and 200% by the close)?
Thanks
jeff
jeff - a lot of
Posted by matt on 2nd of Aug 2010 at 10:37 am
jeff - a lot of the stocks break out in the afternoon or morning, not all in the morning. If they are in the morning, see a 5 min chart, look at the volume candles, etc, look at Level 2, see the bids/asks, etc stuff like that if it breaks out in the morning. look at the tape, you should be able to get a feel for it
Hello Jeff: Your analysis on the
Posted by steve on 2nd of Aug 2010 at 10:35 am
Hello Jeff:
Your analysis on the AXAS volume is just fine. Some services offer a percentage volume function that makes it even easier. Often, volume will also come in simultaneous with a breakout. The tough thing today is the large gap up in the market and how much buying may remain. Currrently, AXAS is testing resistance and may be forming a bull flag on the 5 minute chart.