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Strategies & Market Trends : Waiting for the big Kahuna -- Ignore unavailable to you. Want to Upgrade?

To: yard_man who wrote (24167)	8/13/1998 11:02:00 AM
From: James F. Hopkins	Read Replies (2) \| Respond to of 94695

Tippet; I'm not sure if I weighted them, it don't prove any thing, in fact there isn't a lot in the market that can be proved, As you know I even see the S&P 500 and the DOW as enhanced.. and often full of foam. It's why I don't rely on to much TA or waves, as the Tops and Bottoms are not always real, or say apples to apples, to get them apples to apples the liquid ratio would have to match. Ie a top of the S&P at 1190, when it's liquid is not the same as a Top at 1190 when it's not liquid..alowing for that liquid factor is beyond the resources of most of us..but it makes a lot of difference hence there is no way in my mind that the E wave people are really looking at the same kind of tops, when they do their count, having stumbled on that I blew the E-wave over any long time frame away as voodoo. Now I do have a way of doing it just with the Dow, and I can tell you for sure that the same TOPS and BOTTOMS in numbers are not hardly ever the same in market cap. E-way may would be a lot better if they measured the total market cap, and not the index as the two don't always match they diverge and converge a lot. Hence an index can lie big time. I don't know how many times I will have to say that for people to catch onto what I see. It's like allowing for the "refraction" of a sun sight when navigating, The only time the sun is actually where you see it is if it is directly over head. Maybe people without the types of frames of reference I picked up at sea can't see it. I think if one was to look at total market cap vs index, at several points over a period of time they would see the "refraction" of the two I would use total market cap as a yard stick for tops and bottoms, not the indexes, and that would change the historic charts around. I'v found this of particular interest in the DOW, keeping relativity in mind and the mean of the two as they relate to one you get a over bought over or over sold based on, over bought = index is above the mean average of index vs T market cap. Over sold = index is below the mean average of index vs T market cap. Takes more work than a lot of people are up to. Jim