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Technology Stocks : Discuss Year 2000 Issues -- Ignore unavailable to you. Want to Upgrade?

To: Steve Woas who wrote (2031)	6/21/1998 9:26:00 PM
From: paul e thomas	Respond to of 9818

I use GErald Appell Systems and forecasts. I follow a lot of market indicators but watch The Worden weekly T-2118 chart the most closely.IT is called the McClelland Summation index.IT tracks the difference in a 19 and 39 day moving average. It works as a good overbought or oversold indicator. IF I had paid attention I would have avoided getting caught when IMRS headed down in April as it had signallled a market reversal a couple of weeks earlier. Hind sight of course is great .The short term Appell market barometer is bearish but it would not take much in the way of an increase in the advance to decline line to to issue a buy signal.I view the market as rather risky to enter.

To: Steve Woas who wrote (2031)	6/21/1998 10:10:00 PM
From: IngotWeTrust	Respond to of 9818

If I may, Steve, I'd like to add that the McSum Index is based on the 13/89 moving average of the McClellan Oscillator itself. It is something that my friend, Ken Gammage calculates for CNBC daily and is reported on in graphic form, about 6 times daily via that station. Sherm McClellan is the originator of both, but Sherm loves to tinker with it, and has made some "improvements" over the years that renders his current math somewhat "unrelatable" to itself as an indicator truly should be. I would equate it to the DJIA of today being compared to the DJIA of 50yrs ago. Someone is ALWAYS moving a company in or out of the DJIA and replacing it with something else. The name may remain the same, but the correlative factor is skewed from that point on. For that reason, I appreciate Ken Gammage taking the "purists' viewpoint" and continuing the "old timey" calculations instead of all of Sherm's tweaking, frankly. Just thot I'd add a tad of history/current events to your reply from Mr. Thomas just incase you decide to start incorporating the McSum Index into your thinking. It is a dandy tool, at least the way Ken does it, imho. O/49r