shorts are burnt, page-53

It is a school of thought that was promoted heavily by Joseph Granville that simply states "if the UP volume, where the share price closes UP for the day's trade. in total terms over a considerable period of time, (you start at any designated point of time) exceeds the DOWN volume over that same period of time the stock is undergoing ACCUMULATION and if VISA VERSA the stock is undergoing DISTRIBUTION. All up days are added to the cumulative total, all down days are subtracted from the cumulative total. No action is taken on days where the price closes unchanged. This methodology is more effective and indicative of potential price movement the longer it is employed. It is also known as OBV or On Balance Volume. It sounds simple and logical, which it is and can be a very effective tool, amongst others in determining price movements as price generally follows volume. People naturally look at price movements far fewer take the time required to follow volume movements, but shares cannot get to any price without being traded and this cannot be hidden as it will always show up in volume. I hope this is of some assistance, dangar and to other interested parties.