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cyofish

09/13/06 12:09 PM

#7285 RE: TampaTradr #7284

Volume is always valid comparison becuase if there was interest it would still exceed the so called "pre-restricted" volume. BTW, it isn't much of a restriction per se when you can still trade the shares by calling in the order. Also, as far as I know E-trade is the only brokerage that changed the way you can trade GFCI. Point is you can still trade it! There maybe a couple of others but in the scheme of trading, I don't think it's a significant restriction, do you?

Ameratrade still allows GFCI to be traded online, and Merill Lynch never let me trade a pinky online. So the use of the word "restriction" is a little overblown. Also GFCI traded below yesterdays volume 10x in August so pre & post restriction argument doesn't hold water.

TA 101:

Point is it closed up a penny which means nothing. It could have just as easily closed a penny lower. It certanly doesn't show strength. Secondary indicator of "no strength" is volume, which it traded at nearly 1/3 of normal volume. It's not like it went up on 13 million shares traded in one day like it did on July 10th. Even at that point I wouldn't crown it a breakout because it's ONLY one day. A higher highs on higher volme 3-4 consecutive days would constitute a breakout IMO (I woud look at other indicators to confirm the breakout as well). 1-2 days is a pump and dump, particularly witn $0 smartmoney participation...which is the case with Grifco.