Everyone is treating the accum/dist indicator like it's this stocks holy grail.
It's usually a good indicator, but with NYBD it's going in polar opposite directions 99% of the time.
The line does not literally track buys vs sells. It just assigns a value to the volume based on the start/highs/lows of the day etc. Which when you get a stock that's as paintable/whackable/manipulatable as NYBD that indicator means virtually nothing IMO.
Not to mention that the way most people refer to that indicator makes zero sense. You can't say that people are accumulating more because there's more buying happening at the bid. The stock market is a zero sum game, for every person buying at the bid there's someone selling at the bid. And even worse, if it tracked buying at the ask, and it's been consistently raising the roof of the accum/dist line, if that many people were buying at the ask - it should raise concern as to why the price wasn't increasing eventually (potential supply/demand issue).
I'm open to a logical refutation, but I think that's most of the angles.
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