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Strategies & Market Trends : TA-Quotes Plus

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To: TechTrader42 who wrote (2522)	11/28/1997 5:49:00 PM
From: Sean W. Smith	Read Replies (1) of 11149

Rukeyser is a nut. His show packs plenty of controversy but I found it boring. I haven't watched it in recent years. very little TA if I remember. Norman Fosbak created and named an index after Rukeyeser called the "Rukeyer's Elves Index". Its a binary indicator of market sentinment. +1 point for bullish host/guest -1 point for bearish host/guest based on end of show opionions by each host/guest. I Beleive the # of guests was constant, therefore the range of the indicator was fixed from ~ -7 to +7. Then the composite was treated as a contrarian indicator of market direction. It was notibly accurate near major market corrections. Fosback dicsusses this in one of the recent editions stock market logic? Don't remeber too much more.... Wall Street Week is on weekly on PBS I beleive. Sean BTW: I honestly think Richards advice of ignoring most of this stuff as noise has been a great benefit to me personally. It allows me to be more focused and concentrate on increasing my analytical skills and executing my trading stragedy rather than second guess and be influenced by snippets which as whole don't make me a profitable investor and only seem to confuse rather than inform. The only financial news I read is IBD and mostly find myself scanning the brokers, software vendors, and data suppliers ads looking for the latest and greatest in online trading technology. Sean

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