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in my opinion any attempt at arriving at a universal definition of
"trending" or any other such concepts fails miserably whether it is
objective or not.
a quick look at any long term chart of the sp reveals many periods of
trending behavior. the past 16 years is one example. it is also common
knowledge that many of the trend following turtles trade the sp in their
futures funds.
yes the sp is "noisy" and does favor counter trend approaches on shorter
time frames. perhaps perrry kaufman will tell you that the sp does not
trend. but the issue is clearly as much one of semantics as it science.
______________________________
-----Original Message-----
From: Gary Fritz <fritz@xxxxxxxx>
To: tj <tradejacker@xxxxxxxxx>
Cc: omega-list@xxxxxxxxxx <omega-list@xxxxxxxxxx>
Date: Friday, June 04, 1999 6:18 PM
Subject: Re: System's
According to 3 or 4 different objective measures of "trendiness," the
S&P flunks.)
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