Question on "new" Gary Classes - Volume?

I last attended the live RTP class in 2007. I hear good things about the new format classes, but I guess they are not being held for now. I continue to study and look for additional information about trading. I recently read books by Mark Minervini that mention the critical importance of volume in relation to price action. This agrees with what I have read about Wyckoff's volume spread analysis. My question is does Gary use volume at all in his new classes? I know in the classes I took he said volume was not useful in analyzing charts. I find that adding volume as a confirming or anomalous factor in analyzing candle charts is very helpful, particularly in gauging when a breakout is validated and when shakeouts are occurring to hit stop-loss positions and shake traders out of their positions before the price reverses and takes off in the original direction.

The new format is great. You should go when they are offered again.There is no mention of volume in any of the classes.

Thanks for the recommendation. I'm on the mailing list, so when the classes start up again I'll see if I can snag a retake slot!

Hello, Volume moves the option. It is actually the second thing you should observe if you are doing tech analysis. It shows an interest in the stock. The volume accounts for ups and downs in any stock. Therefore if your volume number is in the "K's" you have a very low level of interest in that stock and the option will barely move. This is why I have a quote sheet for nothing but volume in any stock I look at. I look at several weeks at a time and if it in the "K's" I move on. Not interested in a stock that doesn't "move". In fact even with JUST volume you can find a support and resistance. For instance if I look at my volume quote sheet I can tell when a stock has had good or bad news or reported earnings. For instance KODK which popped with "good news" but was in "K's" before the good news. As I watched the volume grows less after 7/28/2020 I knew I could play a PUT fairly easy. Timing that entry depends on the chart then. Looking at a daily candle of KODK on 7/28 you can see you could have entered that trade as the pull back began and remained in that trade (if you trade that long) until today actually. I wouldn't stay there if I was in it and in fact using the 34/55 chart and seeing the squeeze I probably would have left that trade (PUT) on 8/3. Candles were showing a total slow down in the stock and looking at the volume quote sheet I have that would have been the perfect exit time. Volume ran like this: 7/28: 284.66; 7/29: 276.02; 7/30; 98.74; 7/31: 57.45; 8/3: 47.18; 8/4: 65.89; 8/5; 25.62. Why the perfect time? Notice the raise in volume on 8/4 compared to 8/3? You would have lost some of your money and only come back to where you were on 8/3 by 8/5. Volume and the candles and the 20 moving average was telling no wait YELLING at you to get out of that trade. Hope that helps.

Hey Darcy,

Are you referring to the volume on the stock or the volume on the Option you wanted to select? I'm assuming you are referring to the volume on the stock itself.

I am referring to the volume on the stock. Any stock for me that lies in the "k's is a dead trade from the start.



Edited 1 time(s). Last edit at 08/10/2020 04:44AM by Darcy3.

Okay, I thought so.
Just wanted to clarify for anyone that may read your earlier post. Makes perfect sense to me.