Yeah, its a tough call. To truly follow it, you'd need to be doing the daily math on open positions to see if the volume ratio was truly positions being 'opened' not closed. He also went into cme, which I found tough to navigate.
Also, he always said that it wasn't 'fire and forget' it could occur in the next 3-5 trading days. My diligence showed you needed the time to watch and a quick trigger finger when it was time.
What always gave me pause though was one thing scamman said: just prior to the crash of 1987, the ratio was about 14:1
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