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Strategies & Market Trends : Waiting for the big Kahuna
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To: Barbara Barry who wrote (17072)4/22/1998 9:29:00 PM
From: James F. Hopkins  Read Replies (3) of 94695
 
Barbara: The main thing was, Did you not notice the negitive tick
with the indexes going up today ?

I know I get long winded when frustrated and generally don't mean to aim all of my message at the person in the header. I'm aware a lot
people read them..other than the question above the main guist
was to say again
an index can move up when a few thinly traded stocks
move up more, than the heavy traded ones move down.
In short the market can be running opposite the index..and
when it does TA on that index is worse than useless it will kill you.
---------------------------------
Program trading can pump the index, by buying thinly traded
stocks as it sells the heavly traded ones, then dumping the thinly
traded stocks sending the index down real fast and buying the
dips on the more heavly traded ones as it sells off the thiner
ones.. this is not a can..this is happening a lot..
I see it in some paper portfolios I'm tracking.
Dont forget , did you see the negitive tick today
with the indexes going up ?
In short there were more trades crossing 90% of the day on the
down tick than the up tick..yet the indexs did not reflect
that..as the up ticks were not as much; but on less
liquid stocks..and held the indexes up..
not a good sign.. tick one way index the other..that is not
a mixed indicator in my books, that is a bad omen.
jim

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