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To: Darth Trader who wrote (34781)2/6/1998 8:15:00 PM
From: Dwight E. Karlsen  Read Replies (1) | Respond to of 58727
 
I didn't hear Arms' comments, but what was posted was "and if the volume stays high and the DOW moves sideways, that is yet another sign that indeed we have reached a top."

What's not to understand? The action above would obviously indicate distribution.



To: Darth Trader who wrote (34781)2/6/1998 11:30:00 PM
From: Kenneth R Miller  Respond to of 58727
 
He seemed to me that he was kinda scratching his head, but I think the point he was trying to make was that the DOW had all the characteristics of a top.. ie. in spite of the great volume it was simply moving sideways... I'm not too qualified to answer your questions.. I'm kind of a novice investor and CPQ is the first I've made any money on <ggg> I hope I'm learning tho.
Regards,
Ken Miller



To: Darth Trader who wrote (34781)2/7/1998 1:42:00 AM
From: Kevin Walsh  Respond to of 58727
 
Hi DT, I understood Arms as saying that after studying many sets of sideways movement that had significantly greater than average volume, if volume started to decrease and the price action was still sideways that would indicate an impending upside breakout (with high vol). However, if volume stays heavy with sideways pattern, historically that indicated distribution or a top. Therefore, he believes that we're currently experiencing a top.

Hope this helps,
kw.