Here's a passage from a trading book I'm reading at the moment,...

Here's a passage from a trading book I'm reading at the moment, might ring a few bells for xped watchers;

"The business of accumulating a stock is like any other campaign. To buy stock in very large amounts without putting the price up against your own buying requires planning, good judgement, effort, concentration, trading skill and money. As a basic guide, you will notice that the stock is very reluctant to react when the Index itself is falling. This is because the professionals are buying most of the sell orders coming into the market and certainly not selling. On any sort of rally, there is usually very low volume associated with a stock under accumulation. This is because they are not chasing the higher prices (indicated by the low volume up-moves). On these low volume rallies you will often see a sudden increase in volume on an up-day – the stock is being hit hard and fast by just enough selling to knock it back down again, which prevents any sort of rally to start. This results in more stock being bought than sold. These are the classic signs of accumulation. You should anticipate a test, or a shake-out (on bad news) near, or at the end of an accumulation zone, just before a genuine bull move in the stock is about to start. "

From Master the Markets, by Tom Williams.