From what I understand (that's the caveat) about float analysis, it's the turnover of the amount of shares somewhere numbering the quantity of the float. The presumption is that once the new buyers are are all on board, they become the sellers and in turn sell to the newer buyers until the float has turned over again, and so forth and so on. And so, that by so noting the turnover, one can more accurately ascertain when tops and bottoms are near.
Which sounds great until one considers that not every buyer will sell within the next turnover, nor will those that do sell then sell every share they bought, that some will buy while others short (borrowing the stock) which skews the number, that some will both buy and sell within the turnover itself, that some will die while holding the stock and it won't be released from probate for sale until probate is finalized which could be after the turnover, that demand and supply for the stock will wax and wane, that some neglect to sell when they wanted to sell and others will hold off selling not wanting to either realize their loss or cash in their gain yet, that mrmarket will hold his position until he hits 15% or dies or there is a FA change warranting an exit, and conversely that a bunch of traders will be out this afternoon and back in tomorrow and in and out a few times today, tomorrow, next week and next month.
Now keep track of the float analysis for determining tops and bottoms.
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