V.7:12 (437-437): ELLI-VOL II by James S. Gould, Ph.D.

V.7:12 (437-437): ELLI-VOL II by James S. Gould, Ph.D.
Item# \V07\C12\ELLIVOL.PDF
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ELLI-VOL II by James S. Gould, Ph.D.

ELLI-VOL II is a trading/timing method combining a stock's (or index's) daily closing price and trading volume to derive a daily trading signal, presumably indicating when to open or close a current position or to stay out of the market.

The program's underlying logic is based on the amount of volume required to "move" a stock's price. In theory, a half-point price move on 8,000 shares is less significant than a similar price move on 15,000 shares because price-volume relationships portend accumulation/distribution activity. Additionally, an increase (decrease) in price accompanied by high volume is bullish (bearish) while a price increase or decrease accompanied by low volume is not as important. Most traders would agree, however, that these relationships are not always true (especially at "critical" points in a price move) and that there is more to successful trading than these price-volume relationships.

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