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Strategies & Market Trends : Trading the SPOOs with Patrick Slevin! -- Ignore unavailable to you. Want to Upgrade?

To: fut_trade who wrote (4385)	4/12/2000 3:50:00 PM
From: Patrick Slevin	Read Replies (1) \| Respond to of 7434

You would think that was bullish, would you not? Yet I have a Point and Figure programme up that has O's spilling all over the floor...... Trouble with that analysis though, is that it's really dependent on what the Cap weighting is of those Stocks. If GE, CSCO, MSFT, XON, and a handful of others had an aggregate 200dma below the line it would affect the market more adversely than the positive effect of several dozen smaller Cap Stocks. I've been trying to put together some sort of mini composite of selected stocks to try to visualize what the majority of the Large Caps are doing. The OEX is too large a sample. I think if I could selectively take the 24 stocks that would be a representative sample it might be a good indicator. Like at this point in time I might mix in Morgan, AXP, some techs like CSCO, INTC and MSFT, GE almost certainly.... The larger yet more sensitive ones. Because the SP is Cap Weighted most of the stocks in it don't affect the motion very much.