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Technology Stocks : Stock Swap
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To: Robert Einstein who wrote (13498)4/29/1998 2:26:00 PM
From: Andrew Vance  Read Replies (2) of 17305
 
*AV*--Should I be??? Well, Well, see what a number this is???<GGG>
Seriously though, why do you think VIAS might be a buy around now???

Andrew

BTW-as part of my ever increasing study of the world of TA, I came across a real gem of a data point. I was looking at the McClellan Oscillator which is a market indicator based on the smoothed difference between the number of advancing and declining issues of a particular market. Fir the US, this analysis is based on the NYSE. This is one of the more popular breadth indicators that use advancing and declining issues to determine the amount of participation in the movement of a stock market.

Buy Signals: when oscillator falls into the oversold area of -70 to -100 and then turns up.

Sell Signals: when the oscillator rises into the overbought region of +70 to +100 and then turns down.

I wish I could post the graph since the period (10/28/97 to 4/28/98) I charted shows yesterday at -270 and not having turned yet. This is a gross anomaly and a precipitous fall off from the -70 region it was toying with since early April when it passed into the negative territory. The only other anomaly that even comes close to this was the "October Crash" of 1997<GGG>.

I still think we have a few weeks of chaos ahead of us in the tech sector where selective buying may (keyword may) pay off, most of which is directed toward the NASDAQ. However, I thought it appropriate to share this one tidbit of TA data about the NYSE.
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