Yes it is up.. but...
Before my analysis, I just drove my car into my underground parking with my bike on top. lol... my cycling season is over. it is an old Bianchi from 1987, so a little wheel truing.. and I am back in the saddle. A Brooks brothers leather saddle, btw.. of course my bike rack is now screwed.. and a piece of trim ripped off of the roof of my 78 280Z.. yucks.
yes volume is always good. There was this kind of volume prior to or immediately upon, the HH opening. Would have been even better if the price would have gone up... but I am not trying to be sarcastic in saying that.. it is simply true. If I were long (which I am not) I would have liked to see more of a price rise. Price did not move last time either, and we all know what happened next..
The Money Flow Indicator has actually increased as of today and is now clearly in the Overbought range. It is at 80 (the max value possible) So, people seeing what they think is a growth situation and trying to cash in on the market rebound. As of last time, if it starts to fall, they may bail, resulting in a rout. These buyers would not be long-term, they would be speculators with a ST focus. If I had bought at .40 - .50. I would consider selling some tomorrow morning, just to realize a little profit just in case.
Here is the description of the Money Flow Indicator from stockcharts.com:
Formula
The "flow" of money is the product of price and volume and shows the demand for a security and a certain price. The money flow is not the same as the Money Flow Index but rather is a component of calculating it. So when calculating the money flow, we first need to find the average price for a period. Since we are often looking at a 14-day period, we will calculate the typical price for a day and use that to create a 14-day average.
Typical Price = ( (Day High + Day Low + Day Close) / 3)
Money Flow = (Typical Price) x (Volume)
The MFI compares the ratio of "positive" money flow and "negative" money flow. If typical price today is greater than yesterday, it is considered positive money. For a 14-day average, the sum of all positive money for those 14 days is the positive money flow. The MFI is based on the ratio of positive/negative money flow (Money Ratio).
Money Ratio = (Positive Money Flow / Negative Money Flow)
Finally, the MFI can be calculated using this ratio:
Money Flow Index = 100 - (100 / (1 + Money Ratio))
The fewer number of days used to calculate the MFI, the more volatile it will be.
Better yet, here is the description of the bearish signal it generates when it gets to 80 (where it is as of today):
Overbought/Oversold
As with the RSI, the MFI can be used to determine if there is too much or too little volume associated with a security. A stock is considered "overbought" if the MFI indicator reaches 80 and above (a bearish reading).On the other end of the spectrum, a bullish reading of 20 and below suggests a stock is "oversold".
Anyway... I hope that the smarter ones amongst us are selling some on occasions like this.. think about it, you can then buy and increase your shares if it falls again.
Good luck everyone.
