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Strategies & Market Trends : Market Gems-Trading Strong Earnings Growth and Momentum
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To: Lane Hall-Witt who wrote (5709)3/2/2001 2:35:25 PM
From: WaveSeeker  Read Replies (1) of 6445
 
LHW, one of the indicators that Linda Raschke created was the Smart Money Indicator (SMI). Her premise is that the first hour represents dumb money, and the last hour represents smart money. So she subtracts the last hour net change - the first hour net change, then sums the number to calculate a running total. If the net change is very positive, then it's a buy signal, very negative a sell. She calculates it for the Dow, but you can also do it for the S&P and Nasdaq.

Since the indicator has turned positive yesterday, this could be one sign that the pros are buying while the amateurs are selling. For details on the indicator, it's in the book Street Smarts.

WS
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