reeefton followers, page-20

re: 40 g/t of u - is this economic?- reeefton foll CR8: there are quite a few articles you can find on the internet on the topic, and it's also mentioned in a number of trading books. For instance, take this quote from an article called: The High Cost of Overusing VWAP Strategies, on fund managers who use VWAP as their trading tool: "In general, small-cap trades were more likely to have been among the manager’s poorest performers." (http://www.itginc.com/connect/04_fall/vwap.html)

VWAP statistically is liable to produce much more volatile results for small and micro caps. In actual fact it is probably not best referred to at all when as a purchasing or selling indicator for these types of stocks.