tag:blogger.com,1999:blog-7296410208500992185.post2532536482218086994..comments2023-10-30T05:03:34.290-04:00Comments on Vinny Catalano: When a Flood Isn’t a TsunamiVinny Catalano, CFAhttp://www.blogger.com/profile/13958861468295795061noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-7296410208500992185.post-41059231017874874042007-07-25T11:19:00.000-04:002007-07-25T11:19:00.000-04:00Vinny, I agree with your basic conclu...Vinny,<BR/> I agree with your basic conclusion but don't understand middle of trading range concept as we have just made a high.<BR/><BR/>Scott Richards<BR/><BR/>Scott,<BR/><BR/>You are correct and I should have been more exact in stating that the highs recently made constitute the top end of the range as the highs were marginal. <BR/><BR/>The larger issue for me is the fact that big drops need to have two components to them to be very valuable:<BR/>1 - The advance/decline ratio for both the number of stocks and their volume needs to be 10 to 1. The volume did it yesterday but the absolute number. This point will be noted in tomorrow's blog.<BR/>2 - The price break (up or down) is infinitely more important when it takes place at a key price point. Yesterday's drop took place in the middle of nowhere. <BR/><BR/>VinnyAnonymousnoreply@blogger.com