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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: Knighty Tin who wrote (70577)	11/15/1999 2:40:00 PM
From: Tommaso	Read Replies (1) \| Respond to of 132070

As I need not mention, really, way way back when, the Wall Street Week Elf thing was just a set of technical indicators, and in fact during the period of about 1969-1974 and maybe later, it did very well at calling some of the turns, especially bottoms. I think it was a terrible idea to make people into elves. Isn't there TA and TA, though? I mean, all the point and figure charting, and a lot of other stuff, is just pure hokum. But some things such as the dividend yield on the indexes, the cash level of mutual funds, and maybe even an extreme divergence of the Advance/Decline line, are thought of as technical indicators for the market as a whole. There used to be some other things that had some degree of reliability--odd-lot short sales, specialist sales and shorts, etc, but I imagine that all these derivatives have messed those things up. I do keep waiting for the indicators on Marketgauge, of which there are 37, to show a net negative reading of 18, but the closest they have ever come is about 12. I guess, in sum, that I think that with indvidual stocks, TA is totally worthless, but that for the broad averagaes there are some things that can be measured that do help give a picture of how frothy or how depressed the markets are. But maybe you consider that a kind of fundamental analysis. I didn't know about Gail Dudack. If her health is OK she may be rehabilitated. Her disappearance may be a strong indicator.