Technology Stocks & Market Talk With Don Wolanchuk Message Board

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Strategies & Market Trends : Technology Stocks & Market Talk With Don Wolanchuk

SOXL 43.25

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Dec 22 4:00 PM EST

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To: Kirk © who wrote (11344)	10/20/2003 11:16:12 AM
From: dvdw©	Read Replies (4) of 207399

Seems to me that the balance of power in trading rests on whatever the latest spin of a given indicator gives the advantage that side needs going into the day week or whatever. Fact of the matter is from a peak of 5,556 companies listed on the Nasdaq in 12/96 the number of listings on the Nasdaq fell by Oct 2002 to only 3,725 companies. By the year 2000 there were only 4734 listed companies and total share volume was 442.8 billion shares annualized. Yet, the record year for shares traded occured in 2001 when Nasdaq share volume topped 471 billion shares where the total companies being traded had fallen again to only 4,109 companies. Add to these statistics the reverse splits, record short interest, and the absence of an IPO market and you can reach but one conclusion; Against a market of increasing liquidity from gross money expansion, the Float of the market has shrunk materially while the artificiality of Short interest rose exponentialy. IMO its the relationships between these data sets which make the calls of DA Chief......... Probable. The gap in understanding these relationships seems to be wide. Any broad market TA, such as those used in constructing derivative programs, which does not account for the relative constant these data provide, is broke. This excludes TA like ewave and such which are predicting trading ranges.

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