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Strategies & Market Trends : MARKET INDEX TECHNICAL ANALYSIS - MITA

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To: LaVerne E. Olney who wrote (5953)	1/6/2001 1:36:02 PM
From: robert b furman	Read Replies (1) of 19219

Hi Laverne again, Wow further study of your post is a gift. Your post should be a "cool post" of the day. Your Nazdaq 10 day trin chart is a mirror of an old hand written 3 day moving average advance/ decline chart I used to labor over daily it is the exact same. I used to punch out hours of work trying to keep up all those charts.I did that basically for one reason - timing major bottoms and tops. Obviosly you've become a student of Oct. 1998. With Trin Vix Naz Hi Low Summation and Naz McClellan summation you certainly have the timing down. Great Job !! Let me ask you what has been a mystery to me?Did you see the nasty viscious double bottom coming that occurred in the first week of October. I didn't. In studying it,I've always thought the only proof of the pooding was The Vix spike.The pop to 62 nailed it. Having said that - it was a no brainer to buy the perfect bottom because many stocks were screaming "its scary but I'm going up" in that as price reached new lows - as your Naz Hi-LO Summation points out so well. Many of the semi equip co stocks were almost bragging divergences. When I talk of Divergences I'm obviosly not as well trained in the mathematical formulations of the referenced indicators.Rather I do study daily TC 2000 by the Worden brothers.During the perfect bottom many semiequip stocks where hitting new lows while Time Segmented Volume,Balance of Power and Macd where all not going to new lows like price was - IN FACT they were migrating from negative to positive. I currently see that occurring in Nvls,Ltxx,Cohu and others.That leads me to believe your premise that greater duration in vix could well be an equivalent to a short violent spike. It goes well with the saying - Price does not alone make a bottom it also takes time. Nothing is perhaps more powerful in this market ,especially after the volatile MOMO times we've been thru. Time duration may well be the perfect indicator. Darn it just hard to read. Leads me back to the need to look out for divergences.JMHO If I could be so bold,could I ask how you construct these wonderful charts.My expertise is limited on computers - but you have made my day to see someone who has harnessed computing power to do what I have thought for years to be most important in developing good timing. Thank you for sharing and thank you even more if you could enable me to duplicate their message in the future. Bob

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