Estimating todays volume

Does anybody estimate volume when trading individual issues?
I noticed that when the opening trend is up and the daily volume is higher than normal the trend will usually continue upwards. If the opening trend is up and the daily volume is lower than normal, the trend will us ually turn downwards towards the close.
How can I find the volume "on opening" figures? "NYSE"
Is using pre market volume a good predictor of actural daily volume?
Thanks! jj

 

I am nor sure if this is what you are looking for, but I wrote this in another thread.

I do all my scanning the night before based on EOD data, but I am very much interested in the volume behaviour of the stocks on my shortlist. To estimate EOD volume for comparison with previous days I use the following parameters for time of day and typical fractional volume.

10:30 0.25
11:15 0.33
12:15 0.50
1:15 0.6
2:15 0.7
3:15 0.9

Hope it helps

 

That sounds good dufferdon, it helps. Do you have an idea how acturate these numbers are? Is there an estimate based on the opening tranaction?
jj

 

I didn't develop the numbers. I think I got them from tradingmarkets.com . I have not checked them rigorously, but they seem reasonable to me based on my experience in using them. I don't know of any way you could predict from opening transaction, which would not be a valid concept for Nasdaq stocks anyway, as there is no centralized market to define the opening transaction.

 

Why don't you just look at relative volume vs. yesterday(or 3-day avg) at the same time?

 

That's what I will probably do, but it can be very time consuming to take off volume data at certain times for a large number of stocks. Does any service offer this info?
jj

 

Any number of software packages will do it, such as tradestation or first alert. also, I believe tony oz uses relative volume in his scanner. you might also check sort wizard, storm watcher and some of the other scanners. they may be able to do it, but I'm not sure.

 

I know that Insight can handle relative volume, relative strength, etc. in real time

 

I believe Insight only does business with trading firms. I wrote an excel spreadsheet for relative volume by using NYSE volume %'s in 1/2 hour increments and use that percentage to figure out what a stocks volume should be at a particular point in time.