AcesHigh,
VSA is used for any market where there is supply and demand and volume is used as it's measure. Doesn't matter if they're Oil and Gas pennies, Biotech blue chips, Currencies or Futures.
It may well be the LT investors that are absorbing all the stock. I just don't think that's a good thing. If PIE becomes so tightly held by LT investors, we won't have any liquidity. No liquidity and you really won't have a market. If there is no market, what will happen to the share price? It won't go anywhere in my opinion.
Cheers,
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