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To: steve from ihub who wrote (10653)	6/16/2004 7:14:08 PM
From: TREND1	Read Replies (1) \| Respond to of 29595

Steve you wrote "interesting chart Larry. could you give your interpretation of what it means." Comments: (1)Les's number for % of the 131 SEMI stocks above the 10 day SMA results in one number for a given day. (2)There can be an infinite number of lines through that one number on a given day. (3)But there can only be one distribution line of the 131 SEMI stocks for that day. (4)The result is a clearer picture of what is happening.IMHO. (5)Looking at the chart of SMH Holder since the beginning of the year, I have picked Pivot Highs and Pivot Lows and plotted the distribution lines for that day using Metastock Pro. (6)Hoping when a given day's distribution line gets near a previous pivot high or pivot low distribution line that the probability of being near a high ot low will be good enough to make money. (7)Time will tell