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To: Henry J Costanzo who wrote (147831)8/12/2007 7:40:10 PM
From: Shack  Respond to of 209892
 
It a valid question Henri, and in general I agree with the skepticism regarding the relevancy of PAYX. But my point was that it has tracked the $COMPQ pretty damn well in terms of the main trend and that is a bearish set-up which projects it to below the 2002 lows. If my PAYX read is right then while indeed the correlation may suddenly end, its worth noting IMO.

Just more clues for me, and all these clues have served me well thus far.



To: Henry J Costanzo who wrote (147831)8/12/2007 7:51:29 PM
From: skinowski  Respond to of 209892
 
You are right - one must be careful when looking in the chart of PAYX for a key to the broader market.

But then again - companies like PAYX may be more in tune with the market than GOOG or AAPL. Those latter two will not be the ones to suggest upcoming tops... if the markets turn down they will have to be dragged down by the falling tide, kicking and screaming.... -g


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