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Technology Stocks : IDTI - an IC Play on Growth Markets -- Ignore unavailable to you. Want to Upgrade?

To: rairden who wrote (10155)	3/26/1999 11:42:00 AM
From: OldAIMGuy	Read Replies (1) \| Respond to of 11555

Hi R, Those New High/Low values are on a 52 week basis. They concur with the weekly values I find in BARRONS each week. Last week there were about 200 new 52 week highs and over 300 new lows for the week overall. Norman Fosback uses these values in an index called the High/Low Logic Index. He calculates it for the NYSE, but I use the same formulae for the NASDAQ. It's been a good short term indicator. The High/Low Logic index is calculated by taking the smaller of the new highs or lows and dividing it by the total number of issues traded during that period. The smaller the value, the more bullish it is. Large values indicate market confusion which is bearish for the market, short term. If we use your data, it would be 64 divided by (about) 5000 or 1.28%. Fosback suggests we use a moving average of 5 or 10 days data to smooth out the information. I use the weekly NASDAQ totals and consider a value under 2.75% to be bullish and above 4.25% to be bearish. This has been quite good for short term indication. Everyone has "hated" IDTI for some time, so from a contrary point of view, maybe it's the time to own it. I already own plenty, but sold in the rally to the $9 range recently. MU came out with good news the other day which may help IDTI regain some sponsorship in the market. Best regards, Tom