I prorate the 65 day average volume over the current day using QT. Right now HPQ is at 65% of the 65 day average volume which is slightly faster than it "should" be which is about 55% at 12:30. For a breakout, I'd expect a volume pace of maybe 2x or more.
When you say "prorate" do you mean you do it hour by hour? Or do you just take to the 65 day average and divide by 5.5 hrs? By looking at the average vol for each hour of the day, you could see if momentum was building.
Half-way through an average day, you'd expect the total volume traded for that day to be 50% of the average daily volume. 3/4 of the way through an average day (around 2:30-3:00) you'd expect to be at 75% average daily volume, and so on. I have a chart that I periodically refer to for seeing how the volume is building for a stock I'm looking at. If it's running twice as fast (prorata) then I'm gonna sit up and take notice. If it's making a new high on normal volume or less then the new high is shaky at best, in my opinion.
Dont you just love the buy back at 4:00. My question is, how much did they buy back before they announced the buyback?
i got in yesterday durin' the overnite session, 10min after report was released...first stock i saw that paused for what seemed like an eternity after the initial 1% spike...gave me a good opportunity to get in as soon as a program got things started...that was a kewl $1'n'change ride..got out at .35 and in retrospect i should have stayed in and keep it as a swing trade but what the heck a buck is a buck, innit. lookin' to get in today maye with some otms...should be strong for weeks to come.
I was in it yest, but bailed ahead of earnings. My worst loss was an earnings play (unhedged, basically just gambling) many years ago and I have never forgotten that lesson.