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Strategies & Market Trends : Trading SPY and DIA for Fun & Profit -- Ignore unavailable to you. Want to Upgrade?

To: Satyr who wrote (15)	1/21/1998 4:02:00 AM
From: James F. Hopkins	Respond to of 130

Satyr; Well you can look and likly do look at the tick, and Trin during the day, I do to but that didn't show the 2pm rocket till she was well under way. I have not yet got one perso who was already into TA to understand why it won't, don't and can't work on an index. They seem so convinced TA is the end all, inside the index several things are happening..worst with the DOW..the S&P some better but weightings are old, and comingaled ..smaller cap stocks can and do at times take strong contraol of the index, they can do this with big price changes that are not really relitive to the volume , and index gives history old history at that, and not always honest in itself about the direction "the volume of money is moving " and it's that volume of money thats moving that really makes the market, not 10 20 0r even a 100 stocks going up some big amount on small volume( while tons of shares on a few MEGA caps go the other way often not effecting the index because the price change on thoes few was smothered out by the tails. ) I have watched the tail wag the dog to much, to ever for one minute think that an index itself is telling the truth about the real market just because it goes up or down. Do you understand the market can be falling and the idexes all going up..well it can ! Just how can you TA something like that. ? Dollars most of them had already gone on vacation, before the broad decline in stock prices on OCT 27th , the market really started a declined back in July. Dollars had pulled out nice and sneaky like then the bulls found out they had no buyers. And then the indexes caught up with and reported history. That history was in the making for almost 3 months. MEGA caps are not fairly represented in any index, by their nature these few represent so much of the trade going on..and should not be mixed with others. GE goes up $1 and UK goes DOWN $1 all else the same the DOW index won't move..yet I can tell you at least 200 times more money went into the market than went out of it...200 TIMES MORE, and the index didn't move. Same thing other way around. What Im doing is very simple, it just takes a little work. Jim

To: Satyr who wrote (15)	1/21/1998 9:20:00 AM
From: James F. Hopkins	Read Replies (1) \| Respond to of 130

Satyr; Looks like Dow is goung to get hit with big drop in IBM, S&P futures down farily strong, ah and the bond is up, norm that drops interest rates and helps stocks but I noticed two weeks ago that had reversed or inversed..and was working backwards Europe is all down, Asia Mixed , but more downs than ups. Looks like you peged the last breath rally yesterday.. ----------- All in all I'm somewhat bearish on the market, but not a lot I know its overpriced but that doesn't always stop it from going up. It sure has tried to claw it's way back. Only once in the last month have I seen it buck the futures when they were down this strong. --------------------- Also overnight looks like Japanese did a small short on the Dollar, and the dollar is down not strong but enough to mess things up as it happened fast while we slept. .66% off of the yen. I can't picture all the shorts covering after 2pm yesterday, looks like who didn't may not have to today. Jim