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Strategies & Market Trends : 99 RS stocks--WATCH THEM FLY HIGHER AND HIGHER -- Ignore unavailable to you. Want to Upgrade?

To: Christopher who wrote (450)	11/6/1997 11:00:00 AM
From: James Strauss	Read Replies (1) \| Respond to of 836

Following The Leaders... >>>I checked my IBD and found that the volume for NASDAK and DOW yesterday was higher then the day before but the index did not move much. This is an indication that the increase in volume is probably due to distribution. The same thing happened on Thursday and Friday before we lost 550 points last Monday. This pattern usually occurs before the market goes down and it is documented in William O'neil book under identifying market tops and bottoms.<<< **************************** Chris: Good observarions... Using certain stocks as market proxies can be helpful in tracking market direction... As an example, although IBM is not a RS 99r, it is still a good market indicator.... Notice the topping action in the chart for the past four months... So... When the 99r's, as a group, begin showing weakness, the market will usually follow... Jim