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Bob,
I am aware of that. My question to you is, nevertheless, how do you account for
the bars on daily charts when Candlestick Charts are used? Do you know?? I am
curious and since you obviously know much if not all about Candles I thought you
could explain it.
Bob Jagow wrote:
> He was specifically speaking of weekly candle charts, Bill.
> ' I accidently chose the candlestick option on a weekly mutual fund chart
> and it produced candlesticks - gee whiz!
> ... FastRUBE recommends using candlesticks on weekly and monthly fund
> charts as an integral part of it's fund selection process''
>
> Bob
>
> At 04:24 PM 9/8/98 -0400, you wrote:
> >You are right of course, Bob. I use Arms Equivolume and I was thinking of
> Candle
> >Volume in which width, I believe, represents volume. As to the high and
> low it is
> >the high and low for the week I suppose on a weekly chart, but how do you
> explain
> >a high and low on daily charts with Candles? I don't use them and I am
> ignorant
> >on the subject. Sorry if the misinformation got to the lurkers.
> >
> >Bob Jagow wrote:
> >
> >> Your post may be hazzardous to lurkers, Bill, because both of your
> >> statements are of course completely wrong ;)
> >> Of course there's no volume, but what's vol to do with candles?
> >> "weekly charts will show a bar with high and low" unless the price didn't
> >> change all week.
> >>
> >> Bob
> >>
> >> At 08:26 AM 9/8/98 -0400, you wrote:
> >> >Mutual funds, of course, do not have volume reported. I don't know
> what the
> >> >explanation is but I'm sure it can't be legitimately employed in analysis.
> >> How
> >> >can you lend credence to something that doesn't exist. I do know that
> weekly
> >> >charts will show a bar with high and low. This is due to the 3% bid/asked
> >> load
> >> >and of course means nothing. I don't know where the width of the candle
> >> comes
> >> >from but I do know it is worthless.
> >> >
> >> >Tim Gadd wrote:
> >> >
> >> >> Maybe this will be obvious to everyone else, but up until this weekend,
> >> >> any information that I have read regarding mutual fund investing and
> >> >> trading states/implies that candlesticks are not a charting option
> >> >> available for mutual fund analysis. Then this weekend, I accidently
> >> >> chose the candlestick option on a weekly mutual fund chart and it
> >> >> produced candlesticks - gee whiz! And then one of the recent posts (by
> >> >> one of the subscribers playing with regulation-size balls - I forget
> >> >> who) professing the overwhelming power of candlestick charting got me a
> >> >> thinkin'. Can/should I use 'em?
> >> >>
> >> >> Later the same day, I just happened to run across some information on
> >> >> the FastRUBE trading software that augments Investor's FastTrack.
> >> >> FastRUBE recommends using candlesticks on weekly and monthly fund charts
> >> >> as an integral part of it's fund selection process - huh? I guess it
> >> >> makes sense, since there are open (actually, the close for the first day
> >> >> of the week / month / period), high, low and close (the actual weekly /
> >> >> monthly / period close) values available.
> >> >>
> >> >> But are the candle patterns interpretable in the classic sense? I have
> >> >> noticed that there are what seems to be an inordinate number of gaps, no
> >> >> doubt because of the use of the first-day's close as the open price.
> >> >> Comments appreciated from the candle aficionados.
> >> >>
> >> >> I'm gonna try to figure this FastRUBE thang out and try to set up some
> >> >> similar systems myself - while I'm learning how to use candlesticks. Are
> >> >> their any other mutual fund traders on the list that have set up a
> >> >> FastRube-type fund ranking and selection system using MetaStock or
> >> >> Window on Wall Street? Any guesses as to what the AccuTrack/Relative
> >> >> Strength formula might be? After 4 years of being a bull market fund
>
> >> >> trading genius, I am only now tinkering with setting up and testing
> >> >> automated trading systems.
> >> >>
> >> >> ______________________________________________________
> >> >> Get Your Private, Free Email at http://www.hotmail.com
> >> >
> >
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