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Strategies & Market Trends : Waiting for the big Kahuna
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To: Monty Lenard who wrote (20745)6/19/1998 11:01:00 PM
From: James F. Hopkins  Read Replies (1) of 94695
 
Hi Monty; My guess is that improvement on the 17th to 64% was as
a result of the intervention news. Seems to have worn off fast.
---------------
Something new I'm looking at , ( or at least a new angle ) on the
A/Ds and high/lows as well as up/down volume.
quote.yahoo.com
I assimilate this by eye ball doing a rough calculation on the fly,
but I stick with ratios, and percentages in getting a picture.
jot down notes and time during the day , and if try to catch it
changing but at the same time the index still going the other
way. NOTE I cut the Nasdaq volume in half..( it trades twice per
trade going via the MM ) and total them all too. ( after cutting
the NAZ vol 1/2 ) ..leaving out the AMEX and BB
like roughly I got up vol 40% / down vol 54% /unchanged 6%
Relative the NAZ new High / low beat the NY about 3%
but we had about 3 new highs for every 5 new lows.
about 35% of stocks advanced while 48 % declined , and
17% remained un changed.
------------------------------
Summery the internals today are a tad worse than the S&P would
have you to believe. MSFT was a big gainer and has a lot of weight
in the S&P as well as the OEX. Her bucking the tide may have been
more short covering than out and out buying, I like to short when
every one else covers, so I took a chance on PUTS on her just before
the close.
Jim

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