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Strategies & Market Trends : Paint The Table

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To: Augustus Gloop who wrote (2652)	11/18/2001 9:35:37 AM
From: Atin	Read Replies (1) of 23786

Bullish percent is an oscillator that is based on an underlying trend following methodology (P&F). So it will usually be late to turn since trend change notifications are usually late when using a trend following strategy. On the other hand, the bullish percent is like most oscillators - it is good at extremes (the BPNDX hit 0 late sep-early oct!) for alerting you to a countermove, but not so good at saying anything in the middle. Knowing its limitations helps in using it though. The way I use it is that I only pay attention to BP when it is at an extreme - if extremely overbought (above 70, preferably 80), I will be prudent on the long side (and think short), and if extremely oversold (below 30, preferably 20), I will be prudent on the short side (and think long). The BPNDX rang a bell in late sep-early oct! Now it is getting high (above 70), so not doing much beyond managing whatever I have open (trailing profit stops, trailing stop losses etc) there. BPSPX is middling (40-60) so not doing much there either. -Atin

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