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Strategies & Market Trends : Classic TA Workplace

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To: Jerry Olson who wrote (86536)	11/26/2003 5:26:50 PM
From: SwampDogg	Read Replies (1) of 209892

<<the VXO is only one indicator that really hasn't held water for a long time.>> Depends on the time frame. If you compare it over the long term to intermediate highs and lows in the market it has never been wrong. It will not tell you if the market is going up or down over the next day or even the next month but it does tell you whether people buying at that level will make money or lose money over the longer term. Buying at this $VXO level for more than a trade will just not work. Does the market make new highs? I don't really care. The next 30% move is down so all that I am doing is managing my shorts. The higher S&P close on lower volume today is actually somewhat bearish. Next week could be down hard.

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