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I have no position in the bonds tomorrow. Don't feel strongly either way.
As I have said in previous posts, I never heard of OBTR until I started
using Livewire and they give very little info about it. Looks like a slow
MACD with two oscillators that cross. If you have only one line that is not
what the Livewire OBTR looks like.
I spent the evening going through my charts. I'm getting a stronger
negative feel towards the market. Paper & Forest Products looks bad.
Natural Gas strong but now overextended. Computers & Semiconductors both
losing strength. Only Software showing some strength in this group. Went
through the Dow 30 and most of them look sick, not unexpected with the
shifting from the large caps to the middle group. NASD's OBTR still
positive but any softening by the high techs could turn it negative. MSFT &
INTC don't look impressive. Seems to me at this point the Bulls have to
prove their case.
BTW, Jimmy Rogers appears on CNBC tomorrow morning as their guest expert.
He will be on from 7:30-9:00 Central time. I like him because he puts out a
minimum of BS and discusses markets all over the world. Well worth
watching.
Hope I don't bore everyone with these posts. I know the mail is heavy from
this group and if its too much I'll pull back. I'm looking for ideas here
so I don't mind the volume but others may not .
Bob Doeden
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Al Taglavore wrote:
> Thank you for your rapid response. I am interested in the OBTR that you
> mention in your post. I have read where several of the "posters" use
> this indicator. I have read Tom Bierovic's brief article. I have set
> the formula in MS, but I fail to see how the results differ from OBV.
> I have made a written note to discuss this with Mr. Bierovic at the
> upcoming Dow Jones Telerate seminar. I have had several workshops with
> Mr. Bierovic in the past, but not one in which he presented OBTR. I
> would appreciate it very much if you would post your thoughts on this
> indicator and how you use it in your analysis.
>
> I have elected to step in front of the jobs report tomorrow morning
> and have taken a long position on the T-Bond. Are you going with it
> or against it or flat?
>
> Al Taglavore
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