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Andrew,
Both the screens (MSTT SPY trading system and Metastock's system) I
use rely on NYSE breadth as a proxy for SPY breadth. Still, is the
discrepancy/inaccuracy from this approach more than say, 5%?
--- In equismetastock@xxxxxxxxxxxxxxx, "Andrew Tomlinson"
<andrew_tomlinson@xxxx> wrote:
>
> I highly recommend that people take a look at Larry's work. Just to
give one
> example, traditional breadth data only exists on a stock exchange
basis -
> NYSE and NASDAQ. Neither match well to tradable indexes. If you use NYSE
> breadth data to trade the S&P 500 or S&P 500 stocks, not only do the
prices
> not match (compare a longer term history of the NYSE Comp and the
S&P500),
> the NYSE data includes all kinds of securities that are not common
equities,
> (e.g. preferred) which distorts the breadth data. What Larry's work
does is
> to isolate the breadth information for the exact components of the
index or
> ETF under consideration, eliminating mismatches. Similarly, trading the
> Nasdaq 100 or QQQQ on the basis of NASDAQ Composite breadth data is
also a
> mismatch - Larry's data solves the problem.
>
> What I particularly like about this work is that it is not per se
> interpretative - it is providing us with new, more accurate data
from which
> to make our own interpretations.
>
> I have no connection with Larry, but I have great admiration for
what he's
> doing. If you use breadth data at all, take a look at his site.
>
> Andrew
>
>
>
> -----Original Message-----
> From: equismetastock@xxxxxxxxxxxxxxx
[mailto:equismetastock@xxxxxxxxxxxxxxx]
> On Behalf Of Larry Carhartt
> Sent: Wednesday, October 05, 2005 1:36 AM
> To: equismetastock@xxxxxxxxxxxxxxx
> Subject: RE: [EquisMetaStock Group] Trading the SPX or SPY
>
> I will spare the forum my enthusiasm for composite / breadth data
analysis,
> but both the SPX and SPY (same beast, sort of) are composites. In my
> opinion, if you are not, at least, including composite / breadth
analysis
> when looking at indexes and ETFs, you are trading with one arm tied
behind
> your back. Possible maybe, but often very uncomfortable.
>
> Take a look at these MetaStock charts and decide for yourself:
>
> http://www.masterdata4metastock.com/Example_Chart1.htm
>
> Best,
>
> Larry Carhartt
>
> MasterDATA Composite Plug-in For MetaStock The Only Source for Index
& ETF
> Composite/Breadth Historical MetaStock Data www.MasterDATA4MetaStock.com
> lc@xxxx
> 818-701-6686
>
>
>
>
> -----Original Message-----
> From: equismetastock@xxxxxxxxxxxxxxx
[mailto:equismetastock@xxxxxxxxxxxxxxx]
> On Behalf Of metastkuser
> Sent: Tuesday, October 04, 2005 9:02 PM
> To: equismetastock@xxxxxxxxxxxxxxx
> Subject: [EquisMetaStock Group] Trading the SPX or SPY
>
>
> Roy's newsletter gave one very good approach to trading SPY.
> Metastock 9.0 came with a built-in template for assessing market
conditions.
>
>
> Does anyone here actively trade SPX/SPY? Can anyone suggest any other
> systems worth looking at?
>
> Thanks!
>
>
>
>
>
>
> Yahoo! Groups Links
>
>
>
>
>
>
>
>
>
>
>
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