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Strategies & Market Trends : Waiting for the big Kahuna -- Ignore unavailable to you. Want to Upgrade?

To: posthumousone who wrote (13211)	1/15/1998 2:17:00 AM
From: Lazarus_Long	Read Replies (1) \| Respond to of 94695

<< does anyone have a chart of teh NewHigh New low index and which direction its trending.....is above below 0? >> Try marketgauge.com Your questions are very perceptive. I, too, will be watching for the answers. My suspicion is trends often can't be defined with high reliability.

To: posthumousone who wrote (13211)	1/15/1998 9:15:00 AM
From: James F. Hopkins	Respond to of 94695

GARY; RE>you feel the use of bollinger bands, stochiastics and RSI is archaic....maybe not applicable to indexes? just curious.<< I do not get into the TA to deeply not the "caned" versions. I do look at all the above, also candle sticks, and feel they are usefull, "on an idividual stock" but look for more than say just one TA indicator, like one of your questions asking about a mixed signal on a Stociastic chart, if the signal is mixed , then look at other forms of TA. -------------------------------------- About canned TA on a market INDEX..It is very foolish..and can not be done ! I do use a type of TA on a INDEX but I reweight the index, compare it to the market index, also I break it apart. This is a style of my own. That uses the larger caps in the Index aginst the smaller ones. Each one produes a curve, I call it MEGA/TAIL, the MEGA line if heading up is good, as large caps really rule the trend, the tail can and does cut that line. If both are going up good, when the tail is higher, and the Mega starts curving down ( it's a sell signal ) when the tail is lower than the Mega and the Mega starts up it's a buy. This is just a general Market trend indicator, and shouldn't be depended on alone unless it is real strong, I use it in conjuntion with other indicators. Some market Indexes are weighted but often the weighting is out of date..the DOW is not weighted. For Each dollar move of any stock in the dow you get the same effect on the Index..to TA that is insane. ------------------------------- Back to canned TA , I've not got into a lot I can see it's usefullness, but also see it has limitations, that if you go beyond can make it worse than not using it at all. TA can bite you on the butt. Besides INDEXES, it is not too good on smaller caps that sell under $10..particularly on the NAZ, it may work on one but not another. Often the market makers are playing with more of the stocks volume and price than the real trades, and can manipulate it to a degree that defeats any TA. ---------------------------- Short term the Market is sending down signals this morning. --------------- Last I'm more into market timing now than trying to TA any single stock. Using simple baskets to go in and out. WEBS, CEs, NO LOAD FUNDS, & SPY I'm looking forward to the new depo recpt coming up on the DJI. Jim only holding one stock. ------------------------------- ------------------------------