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Technology Stocks : Novell (NOVL) dirt cheap, good buy?
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To: dwight vickers who wrote (24594)12/1/1998 9:28:00 AM
From: dwight vickers   of 42771
 
OFF TOPIC!!

Please ignore my last post, I decided to embellish.
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That is correct, but none (+1000 tick counts) before July. At least not that I saw.

Which was my point, although not explained very well.

Once the July top was in we started to see numerous +1000 ticks.

There are those that would tell you that +1000 tick figures are very bullish. I then ask why we didn't see them during the biggest bull market in history.

But we saw -1000 tick at every bottom.

Paul Kangas quotes the closing tick every night on the "Nightly Business Report" on PBS.

Misquotes in my estimation, since it changes by hundreds of ticks (almost always to the upside) in the runoff.

But he says it's bullish or bearish depending on whether it ends positive or negative. Very simplistic. Yesterday it was -91, but before the runoff it was -451. He referred to the -91 as not overly bearish.

I've found that a series (2 to 3 days)of negative ending ticks are more likely to occur at a bottom, and are extremely rare. It can also be bullish, especially when combined with the tick figure dropping during the runoff, rather than a more normal increase.

Gangbusters high closing ticks are not necessarily bullish indicators going forward.

This is all probably explained by the activity of "buy/sell on close" orders.

Either signs of capitulation or euphoria.

Dwight (Didn't start out to do a tutorial)

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