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To: Chris who wrote (7084)	3/18/1998 2:06:00 PM
From: Chris	Respond to of 42787

more post by bob g. Subject: Waiting for the big Kahuna \| Previous \| Next \| Respond \| You have 1 unread message To: William H Hueb (15100 ) From: Robert Graham Tuesday, Mar 17 1998 5:32PM EST Reply # of 15138 Is the book "Stock Market Logic" a worthwhile read? What type of material does it cover related to the stock market? Thank you. Bob Graham Subject: Waiting for the big Kahuna To: Robert Graham From: Barry Hall Mar 17 1998 6:10PM EST Reply #15107 of 15138 Debunks a lot of the so-called indicators that don't work for one reason or another and it's geared toward selling Fossback's newsletter. It's not a bad read really. The dispelling of some myths is good, but I wouldn't buy his newsletter. Subject: Waiting for the big Kahuna \| Previous \| Next \| Respond \| You have 1 unread message To: Robert Graham (15105 ) From: Chris Tuesday, Mar 17 1998 7:47PM EST Reply # of 15138 i've seen his newsletter bob g. not good.. completely calls the mkt in opposite directions. in his mutual fund newsletter, he was calling for a 15% decline in the mkt.. hello?? we are up 8-10% right now? hehehe Subject: Waiting for the big Kahuna \| Previous \| ------ \| Respond \| You have 1 unread message To: Chris (15114 ) From: Robert Graham Wednesday, Mar 18 1998 2:02PM EST Reply # of 15138 Thanks for the information. I am not surprised he calls that market in a direction opposite to what it ends up taking given some of the "indicators" that I see he uses from a quick scan of the book in the bookstore. They appear to me more fundamentally based, the type of indicator that can be out of sync with the market for a significant period of time, and other indicators which only work in thier extreme readings in conjunction with other more time sensitive indicators. From what I see, Martin Zweig uses a similar setup in that is covered in his own book "Winning on Wall Street". I can see some value in the intelligent use of this type of indicator that attempts to measure fundamental aspects of the markets. But I see thier usefulness as secondary to other methods of market analysis. The trader Larry Williams in his book "The Secret of Selecting Stocks" proposes a system also based in part on this type of indicator. Here among other indicators he tracks money supply in economic terms, professional accumulation in the market, and the yield difference between stocks and bonds, the change in short interest positions, and the change in cash position of funds. Pring uses a variant of this approach with his technically based newsletter. So there must be some value to this type of fundamentally based indicator. But some adherents to this approach seem to place to much emphasis on this in their decision making process. So they come up with calls that are poorly timed or just outright wrong. Bob Graham