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To: Kayaker who wrote (4063)	10/22/1999 2:55:00 PM
From: Kayaker	Respond to of 17977

Hmmmm, looks like it is the Arms Index....found this over at Big Charts (pardon me for talking to myself). Arms Index (TRIN) The Arms Short-Term Trading Index, commonly known as TRIN, shows the relationship between stocks that are advancing/declining in price and the volume associated with these stocks. It is calculated by dividing the Advance/Decline Ratio by the Up/Down Ratio. The Arms Index is a short-term trading tool. The goal of the indicator is to determine if volume is flowing into advancing or declining stocks, and by what magnitude. The Arms Index was first published by Richard W. Arms, Jr. in 1967. For a more complete explanation of the Arms Index, see Robert Colby and Thomas Meyers, The Encyclopedia of Technical Market Indicators (New York: Irwin, 1988). Typically, the Arms Index is interpreted as "bullish" when it is below 1.0 and "bearish" when it is above 1.0.

To: Kayaker who wrote (4063)	10/23/1999 5:33:00 PM
From: Herc	Read Replies (1) \| Respond to of 17977

The TRIN and Arms Index are one and the same after Richard Arms who invented it. Your method of calculating is correct. I feed in the numbers to my MS Excel, and it computes it for me. Also the daily TRIN is meaningless. Mr. Arms recommends doing a 10 or 21 day moving average on it. MS. Excel can also do this. On the 10 day M.A. 1.5 is extremely oversold. So I extrapolated that into .5 being overbought. On the 21 day M.A. 1.15 and .85 are the oversold and overbought #'s. Until this week the NASDAQ was extremely overbought.