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Strategies & Market Trends : Take the Money and Run -- Ignore unavailable to you. Want to Upgrade?

To: Jorj X Mckie who wrote (3360)	6/14/2002 6:06:54 PM
From: Nancy	Read Replies (1) \| Respond to of 17639

right, the simple reading does not tell us whether it is an open position or a close position. only way to tell it is monitor the open interest. though many use the p/c, esp the epc as a guage to find st bottom and st top. in this bear market, st top is much easy to find than a st bottom, the opposite was true during 1999 - 2000 when epc can stay below 0.35 for days on end and market kept going up. back then a 0.6 epc is a guaranteed signal to bottom. this bear sees 0.62 - 0.68 day in day out. each bounce from the bottom gets weaker and weaker, 75 to 100 comp point probably is all we will get. and today we used 1/2 of it already. i actually think dj already used up most of its bounce today. all these intra day reversals make don sew's buy signal on close very hard to come by, nor his sell signal. i believe last count he still has no class 1 buy signal on close basis and he refuses to go long as intra day signal is not reliable and he normally only plays profunds.