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Strategies & Market Trends : MDA - Market Direction Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Arial who wrote (43876)	3/22/2000 10:52:00 PM
From: OX	Respond to of 99985

OT: tx for the reference. I do like McMillan's OSI, but I've heard that he's more of an academic type than a practical trader. OSI sure reads like a textbook to me. I saw that quoted portion when Les first posted the link. I'll have to take McMillan for his research, but at the time I reviewed the daily vol+OI for spx and oex and didn't think it was to be totally dismissed. OEX volume on 3/16 was over half the total OI; SPX volu was over half the typical daily volu. (i just looked at the index options) perhaps it wasn't the main reason for the mkt moves, but it sure had a measurable impact. I was surprised to read that coming from him.