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To: TraderAlan who wrote (49041)	8/3/1998 9:55:00 AM
From: ViperChick Secret Agent 006.9	Respond to of 58727

Here we go....I thought we might hang on this morning after seeing the futures..but we started tanking already this morning! AND I AM NOT SHORT YET.....why didnt I heed Fred's Parabolic! at least Csco is hanging on for the moment maybe the NAPM report leaked ;-) ----- As you know patrick is a big pattern trader...you might want to check out the futures thread if you are watching during the trading day (when he gets back from all his vacations) the topic goes back and forth between this thread and that one..but they have started posting on that one more concerning the intraday trading and you have seen the 2:00 balloon theory being batted around here as well... -------------------------------------- To: +Jenna (12397 ) From: +LastShadow Friday, Jul 31 1998 1:55PM ET Reply # of 12443 Point Of Balance Oscillator The August issue of Technical Analysis of Stocks and Commodities has a detailed explanation of an indicator developed to assess the psychology of fear. As a matter of definition, they use the following terms: Bull Fear - When Bulls are afraid they will miss out on a run, and Bears are trying to get out of it. Bear Fear - When Bears are afraid they will miss out on a run, and Bulls are trying to get out of it. Point of Balance - When Bulls and Bears are equal or undecided The extreme of Bear Fear is an oversold condition, and the extreme of Bull Fear is an Overbought condition. The magazine examples were charted using TradeStation by Omega Research, but if anyone is using MS Excel (in particular the Range Expansion Indicator for specific stocks) or can input custom formulas in their TA software, they can review the oscillator of themselves. Below is the mathematics for the POB Oscillator: Bull Fear = BLF = ((HH[n] + HL[n] 2) Bear Fear = BRF = ((HL[n] + LL[n])/2) Point of Balance = POB = ((BLF-BRF)/2+BRF) Where: HH[n] = Highest High for the last [n] periods HL[n] = Highest Low for the last [n] periods LL[n] = Lowest Low for the last [n] periods [n] =- the number of periods one is using (i.e., 5, 7, 14, etc. days) When the Price bar crosses below the POB, one sells and/or shorts, and conversely when the Price bar (or line or candlestick) crosses above the POB one buys and/or buys to cover. On a more volatile stock, one would use a shorter [n] period, and a longer one for trending stocks. Although my initial assessment of it was that one would get better performance on less volatile stocks using simple trendlines. If I get time in the next week I will put it into ProTA and post some graphics of sample charts to marketgems.com in a public area, probably the archives. If it appears worthwhile, I will generate an Excel spreadsheet that one can input High and Low prices and get the same answer. I will also put that on the website where one could download it. This, by the way, is not just an end-of-day tool. Knowing what the Point of Balance price is at close gives one a reasonable exit stop for the following day. To: +LastShadow (12398 ) From: +LastShadow Friday, Jul 31 1998 4:06PM ET Reply # of 12443 Oops - correction to fomula The correct formula is Bull Fear = BLF = ((HH[n] + HL[n])/ 2) on the previous post I had forgotten the " )/ " after the HL sorry about that gang - must be a longer day than I thought.

To: TraderAlan who wrote (49041)	8/3/1998 2:57:00 PM
From: ViperChick Secret Agent 006.9	Read Replies (3) \| Respond to of 58727

hey Alan would like to know what you think of todays trading pattern it fits the idea as I understand it...not the exact timing so far but more or less within the time frame AND we have been doing higher lows so we tested the impulse strongly so looks like an end of the day rally is possible after the day is over I would really like your analysis of today's pattern ------------- My darling Rhett..you did not say whether that was you in that Dell Head picture and where was William/Wilena Spaulding? -------------- MM on CNBC saying he is seeing alot of TECHNICAL selling...from the big boyz