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Strategies & Market Trends : MDA - Market Direction Analysis -- Ignore unavailable to you. Want to Upgrade?

To: John Pitera who wrote (1730)	12/14/1998 3:47:00 PM
From: James F. Hopkins	Read Replies (2) \| Respond to of 99985

John ; In looking at the Nikkei, from over here over lay it with a yen chart..or look at WEJ, or some American funds that trade Japan, keep in mind that from Last of August 14000 on it, would now be worth 20% more in dollars, than it was then. No index is worth a crap if you don't overlay it with any meaningful the change in the value of the currency. That's why I don't do E waves, it's just voodoo, like people being able to see faces in the clouds, all indexes lie 98% of the time what you see is not what you get, until you make corrections. And they can lie both ways. -------------------- Just like taking a star sight, you get the reading, but have to make several corrections, dip, altitude and so on as not even the Sun is were you see it except if it's exactly on your zenith. When you see a sun set , that's not the Sun your looking at, It's already long gone that's just a bent image. All indexes are bent images, knowing how much is something else. If you are comparing Japan back to Late Aug, add 20% to her reading now. If you want to compare The S&P to late AUG, subtract about 15% from her reading now..if these things can require 10, 15 , even 20% corrections in a mear 3 months, how can one just look at any index chart and know were the REAL peaks and valleys are.. Jim

To: John Pitera who wrote (1730)	12/14/1998 6:44:00 PM
From: Moominoid	Read Replies (1) \| Respond to of 99985

cnnfn.com Maybe Abby will start to notice what is going on? Fleck notes that Dow is below 200dma and SPX below 1150. Both cited by various people as support. He seems in a good mood :) I'm not so sure that indeices only make sense when changed into foreign currency. Which currency? How relevant that is depends on who the players are. Now in Thailand for example the majority of the volume is with foreign institutions. So converting the index to SDRs or something might be useful in order too see what the representative investor is seeing. In the US or Japan, it might be interesting to see the perspective of the foreign investor but that is only part of the picture. So I am agreeing with you. David