MARKET INDEX TECHNICAL ANALYSIS - MITA Message Board

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Strategies & Market Trends : MARKET INDEX TECHNICAL ANALYSIS - MITA

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To: High Country Trader who wrote (12428)	6/13/2002 3:35:11 PM
From: J.T.	Read Replies (2) of 19219

J.T., I believe the net balance index hit a record back in 1974 when during a 47 week period (February - December) there was net buying in 44 weeks. I know where you got this information from and it is incorrect. It was 39 out of 47 weeks net buying in the February thru December 1974 period. And the public shorted above the specialists in every one of those NYSE member net buying weeks. Again, only 4 weeks of public buying above the NYSE members in this same time frame. Furthermore, with a little more dd you will find in 1973 shorting activity by the public above the specialists very similar although not as great to 2000 and 2001. Moreover, the NYSE member net balance index was also early in 1973 with a net 25 + weeks of buying. In 2002, I made a minor error. So far thru reporting 21 weeks, (not 22 weeks), the public shorting above the specialists is 21/21, net NYSE member buying is 17/21, and public shorting above the NYSE members is 5/21. So in essence, the net percentage shorting comparison shows 2002 more brisk relative to 1974. Hope you are enjoying your lurk mode and public posting retrenchment. <g> Best Regards,J.T.

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