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Strategies & Market Trends : MDA - Market Direction Analysis
SPY 683.21+0.2%Jan 2 4:00 PM EST
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To: IndexTrader who wrote (79317)6/28/2001 10:08:59 PM
From: John Pitera  Read Replies (1) of 99985
 
Hi Susan, things have been pretty good, I hope you've been
well. I am referring to Terry Laundry's site, thanks
for the link.

after you mentioned this site last year, I reread the
1st "Market Wizards" book by Jack Schwager.

In the Marty Schwartz interview, he talks quite favorably
of Terry Laundry's work. His newsletter was called the
Magic T forecast back in the late 1980's

laundry went to MIT and is an engineering grad of the school

Terry was suggesting that the market spends the same time
going up as going down only the amplitude is different.

The market does go up more than it goes down but part of
the "up" time is a distribution process, so by looking
at Rate of Change oscillators, you can see the equality
between the "Up" time and "Down" time more easily.

For example a 12 day or 21 day rate of change will reach
it's top reading, and then the market will continue to work
higher in price while momentum divergences are made before
the top price is seen.

That's part of the distribution process as Laundry and
Schwartz see it.

That's the concept anyway.

One interesting note is that Scwartz was interviewed in
barron's and mentioned terry Laundry's work and news
letter, and Laundry was inundated with many requests for
material.

He said he did not have any copies of the pamplets that he
had previously been selling.

Schwartz noted that it was interesting that Laundry did not
print some more copies up and make some money.

John
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