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To: Patrick Slevin who wrote (35979)	3/4/1998 8:52:00 PM
From: ViperChick Secret Agent 006.9	Read Replies (1) \| Respond to of 58727

latest mega/tail theory folks... Message 3602124

To: Patrick Slevin who wrote (35979)	3/4/1998 10:45:00 PM
From: j g cordes	Read Replies (3) \| Respond to of 58727

Patrick my friend, I posted this to Lisa, which you misquote.. "Lisa, there's something odd about the trin # today, we're down 86 on the dow and trin is positive.. who's getting heavy block collection in the s&p?" Lets get a few items "on the page" straight.. all for it. A. Tick Indicator is based on the number of stocks whose last trade was an uptick minus those whose last trade was a downtick. Used as an indicator of market sentiment or psychology to try to predict the market's trend. The problem with this indicator is that simply knowing the up or down tick of each trade dosen't tell you how much volume is actually moving in the market towards buying or selling. Trin Indicator tries to solve that. B. Trin = (#advancing issues/#declining issues)/(Total upvolume/total downvolume). Also known as the ARMS indicator. Less than 100 indicates bullish demand, while above 100 is bearish. The index often is smoothed with a simple moving average. In today's example with the market down 85, I observed that the tick was negative most of the day which was expected.. but contrary to norm, the trin was positive (less than 100 around 70-80), most of the day. Tomorrow morning take a closer look at tick and trin indicators when the selling kicks in. You'll see trin well over 100, probably around 140-210 initially and tick -400 to -1100. This is a normal relationship in a selloff. What's odd is seeing one positive for any length of time, while the other is negative. Its odd enough to suspect something unusual is skewing a relationship that's more often in sync than not. I assure you that Trin can be a very negative indicator... As to your last statement that "everything is relative to one's perspective." I trust you only mean that all indicators are a subjective opportunity to trade one way or another. That's true, many look for extremes of tick and trin to time entry or exit.. but that in no way changes the fact that they represent momentary or extended bullishness or bearishness. Jim