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Strategies & Market Trends : Piffer OT - And Other Assorted Nuts -- Ignore unavailable to you. Want to Upgrade?

To: HG who wrote (12082)	1/5/2000 11:59:00 AM
From: Rich1	Read Replies (1) \| Respond to of 63513

Happy Girl, in retrospect maybe your market acumen makes you the new hero. <gg>

To: HG who wrote (12082)	1/5/2000 12:02:00 PM
From: Ms. X	Read Replies (1) \| Respond to of 63513

Remember though in PnF we measure a broader market than the Dow and Nasdaq. It is very possible, more than that since it happens all the time, that the Dow and Nas be soaring and our indicators turn South. Why? Because it doesn't take too many stocks to move the Dow and Nas. So, while CNBC is concentrating on the soaring market what we see is a sell off in most issues. This is why you hear people say "I don't understand it! My portfolio is down but the market is up!" The DOW was up but the "market" was not. This is something that really confuses people. We concentrate so much on the NYSE BP because it measures what Mr. Jones portfolio is doing. Unless you own those few stocks that are moving the indexes you really don't care what they are doing. So, the DOW and Nas have been soaring but the broader market has not. It sold off and has come down to a decent level and has lingered there. Stocks like CSCO, JDSU et al were part of the soaring Nasdaq so if the Nas gets hit, they will too. Also their sectors had moved very well but there is plenty in the market that are just getting started. This is why we like sector rotation. On the other side of the coin, the Dow and Nas can be doing horrible but our indictors turn positive. This happened last year in October and this year. Well before most thought the market would start to move. PnF is contrarian. Does that make sense? When you read the book and get to the NYSE BP you will be stunned and impressed :-)