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These publications have both been bullish since a buy signal was issued
under the Dow Theory in late '94. The Dow Theory works just fine... in
today's markets and those of yesteryear.
All the best,
The Omega Man
Omega - Love it or Leave it.
-----Original Message-----
From: Ron Augustine <RonAug@xxxxxxxx>
To: omega-list@xxxxxxxxxxxxxx <omega-list@xxxxxxxxxxxxxx>
Date: Tuesday, September 01, 1998 3:26 PM
Subject: Re: Dow Theory model
Even a broken clock is accurate twice each day :)
____________________________________
At 07:17 AM 9/1/98 -0400, you wrote:
>
>Don't know which Dow Theory you're referring to... the Dow theory of
>Charles Dow works just fine.
>
>See the 8/3/98 issue of "Dow Theory Forecasts" by Charles Carlson and crew
>or the 7/29/98 issue of "Dow Theory Letters" by Richard Russell. Both of
>these pubs said that a close in the Industrials below 8627 would be a sell
>signal. Such move occurred on 8/4.
>
>
>-----Original Message-----
>Date: Tuesday, September 01, 1998 4:25 AM
>Subject: Re: Dow Theory model
>
>
>Dow Theory had some validity many years ago when the markets were primarily
>traded by a few elite types who had the inside scoop and information
>traveled very slowly. But that was long before the days of Mutual Funds,
>Retirement Funds, Index Funds, Hedge Funds and 9000 Funds chasing 2000
>Stocks... Long before the days of astronomical PE ratios, and Internet
>Trading and Mom, Pop and the Kids firing off Buys & Sells on a whim or a
>Whisper Number... Long before the days of Stock Index Futures, Earnings
>Surprises, and Computerized Program Trading...
>
>Using Dow Theory today to predict anything about the Market is a bit like
>attempting to use a 1920 Model-T mechanic's manual to diagnose a problem
>with your 1999 Corvette...
>______________________________________
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