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To: bcrafty who wrote (82791)	9/24/2003 11:46:20 PM
From: skinowski	Respond to of 209892

But A/D was about 2/1 on the big board, not the 4/1 you'd expect with such a large point move and the naz A/D was about 3/1 Interesting point. There is no way to know whether this break in the market is the real McCoy. For that you need to have the Wave Of Recognition, the 3rd one... That's when the the decline gets broader. Now, in the likely 3 of 1, it's only weak hands and smart money who doing some distributing, albeit for different reasons... -g

To: bcrafty who wrote (82791)	9/25/2003 12:22:49 AM
From: Shack	Read Replies (2) \| Respond to of 209892

The A/D line wasn't extreme as you say (although it still sucked), but the down volume was quite large, that's why we get a high TRIN . In other words bc, the decliners was where the volume was despite that a third of NYSE was up (oils, golds and other assorted fringe stocks-vbg). My god man, take a look at my ticker!: CSCO: -3.9% ORCL: -3.6% MSFT: -3.9% INTC: -4.0% AMAT: -6.1% AOL: -3.0% EMC: -6.0% PFE: -2.2% GE: -2.4% HPQ: -2.2% TXN: -4.3% All on big volume. Trust me, it takes heavy selling to drive all these pigs down like that. As for what I consider a distribution day, that's a good question. All I am really looking for is a close lower than the open, volume must be relatively strong, and down volume must very high, personally I like anything over 75% (today was over 80%). I would not get too concerned about them unless you get more than one in short period of time.