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Dow 8000, why it wasn't so good. Note how the TRIN rose above 1.00 when
the DOW rose above 8020. The TRIN is a comparison of advancing issues and
declining issues and up volume and down volum (adv/decl)/(up vol/dwn vol).
If this move above 8000 is to be taken seriously then the TRIN should have
been way below 1.00, more like 0.50 or 0.75. What the TRIN suggests is
that owners of stock were taking the opportunity to do some distributing in
the afternoon. One day TRIN reading is not enough to indicate longer term
trend, but it is something to pay attention to. You have to be suspect of
this move occuring a few days before options expiration.
BobR
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