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Hi Jerry,
>Then why not use the NYSE Index which is an average of all stocks listed on
>the Exchange?
Months ago, the original question was about the DJIA.
Since my first observations/post I have realized that the correction in the
DJIA is a consequence (technical) of what is going on at the exchange.
Also the DJIA is more popular than the NYSE.
So individuals are more willing to learn (I think) if I present the DJIA
instead of the NYSE composite.
>I am not suggesting that you relate the Russell 2000 with the AIM Funds
>Group. What I am suggesting is that along with your other indices you should
>consider using the Russell 2000 so you will have small cap stocks included in
>your study.
Ok. But how. I don't even know what a small cap is. I have no means of being
ale to screen for them. I don't know how to find them. You get the point. GREEN
& WET behind the ears. As time goes on I will be able to learn about these
things.
>As far as using a mutual fund group, now that I do not think is a great idea
>in and by itself. Generally speaking, each fund group has its own management
>philosophy and/or approach. Some are growth oriented, some value oriented,
>some large cap, some small, some use asset allocation, some balanced. So if
>you use one group of funds, their investment philosophy dictates what you see
>in your study. Now if that is your philosophy is the same as theirs, then
>your use of that group is fine. Again, here I would prefer using general
>mutual fund data....monthly total purchases and sales, the average mutual
>fund industry cash position. What is the new money flowing into....stock or
>bond funds, large cap or small cap. Is the new money coming from retirement
>funds or savings. This I think will give a better feel as to what is going
>on....much better than a single fund group.
I agree. I have really made a big mistake here by suggesting that because some
mutuals are correcting that, that also confirms a weakness in the market. IBD
has some mutual fund statistics. So I will start looking at these as well to
see if there is a pattern that can correspond to the technical patterns
presented in the charts.
(One thing I noticed when I came across the chart patterns was a feeling of
relief, calm, relaxation. Although I have not even looked at any mutual fund
statistics. I feel that this is another piece of a puzzle that might help.
i.e., another feeling of relaxation.)
>Harley, I am not being critical, but am only voicing an opinion based on many
>years of experience.
Not critical, just a good critic.
> But then again, it is only one man's opinion...........
And a good opinion at that.
Harley Meyer
meyer093@xxxxxxxxxx
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