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Technology Stocks : Wind River Systems - Technical Analysis
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To: Mitchell Jones who wrote (69)10/30/1997 8:00:00 PM
From: Ramsey Su  Read Replies (1) of 431
 
Mitchell, as a stand alone indicator, I think most would be worthless.

At times like these, I am searching for overall market support. As an example, IBM's buy back, in theory, brought new money into the micro IBM market but the support seems to be fading. $3.5 billion buys about 35 million shares, about 10 days of average volume. Assuming other companies may be executing pre-approved buy back programs also, they will give support to their respective companies.

Then there are talks about foreign investments or funds moving from emerging markets back to the good old USA etc etc.

I am a believer of the basic concept of supply and demand. If there are more sellers than buyers, the average price has only one direction to go. Isn't mutual fund inflow most likely the largest source of funds coming into the market at any given time?

biz.yahoo.com

Per article above, Sept was a banner month. Lets venture a guess as to what Oct's numbers may be. Strong inflow not only provides the monetary support but also demonstrates strong investor sentiments. If there is a net outflow, one would have to ask where the buyers are going to be coming from?

If I understand Granville's OBV theory, it is more indicative of the activity of an individual stock, not the market.

Ramsey
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