usually you can use the OBV line on REGISTERED shares on dilution ( OBV heading south ) or on big board stocks . i am a big shareholder of CDIV and i have been in contact with the TA every week since december to have an update on the share structure. it hasnt changed in months other than 10 mil restricted shares added to the float 2 or 3 months ago.
the float being locked now , Market Makers that we dont usually see on that stock ( SEAB , NOBLE ,SALI ...usually they represent institution/company) are selling air shares ( NSS ) to the new shareholders, the word on CDIV is to slap the ask , so that is why its registered as a buy as we route tru them ( and others )
and thats why you see OBV heading north .. if you look at the volume for all month of february its just retail.
hope it helps Shoichi
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