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To: GST who wrote (118288)	2/21/2001 2:29:07 AM
From: Michael Watkins	Respond to of 164684

i mean oversold in the purely technical sense -- as in the ARMs index. This is the point behind my comment - 'overbought' and 'oversold' are generally subjective terms and frequently employed by those who have a particular bias towards an outcome. Indicators that purport to show areas of 'over bought/sold' conditions are just abstractions of price and volume and in my opinion do little to add to the picture that ordinary price and volume provide us. An 'oversold' condition can continue on for a long time when a market is moving directionally down. If you don't find that meaningful I can understand -- I usually ignore it myself. About the only use I have for TRIN is a glance once in a while when the market has been trending strongly in one direction or another. But I can't honestly say that I would base a trade on TRIN or exit one either. Oversold - a meaningless term: siliconinvestor.com Fortunately there's a simpler way of looking at things, is it still moving down? Are the downswings longer and lower than the up? Then stay out. EDIT: Or stay short, of course. ;)