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<x-html><html><head></head><BODY bgcolor="#FFFFFF"><p><font size=2 color="#000000" face="Arial">While this is all good information.....<br><br>Why is it being posted to the Omega List and RT?<br><br>David Hunt<br><font color="#0000FF"><u>http://www.adest.com.au</u><font color="#000000"><br><br><br>----------<br>| From: Richard Chehovin <<font color="#0000FF"><u>GalacticFXInternational@xxxxxxxxxxxxxxxx</u><font color="#000000">><br>| To: Omega User Group <<font color="#0000FF"><u>omega-list@xxxxxxxxxx</u><font color="#000000">>; RealTraders <<font color="#0000FF"><u>RealTraders@xxxxxxxxxxxxxx</u><font color="#000000">>; Robert Harnach <<font color="#0000FF"><u>BHarnach@xxxxxxxxxxxxxxxxx</u><font color="#000000">>; John Jezik <<font color="#0000FF"><u>avbme@xxxxxxx</u><font color="#000000">>; Jack Rodiegher <<font color="#0000FF"><u>jack@xxxxxxxxxxxxxxxxx</u><font color="#000000">>; Tom Zabroske <<font color="#0000FF"><u>tomz@xxxxxxxxxxxxxxxxx</u><font color="#000000">>; Chip Starick <<font color="#0000FF"><u>hstar@xxxxxxxxxxxxx</u><font color="#000000">>; Dave J Sametz <<font color="#0000FF"><u>DJSametz@xxxxxxxxxxxxxxxx</u><font color="#000000">>; Paul Weston <<font color="#0000FF"><u>PaulWeston@xxxxxxx</u><font color="#000000">><br>| Subject: Galactic FX Daily FX Update<br>| Date: Thursday, October 08, 1998 1:35 AM<br>| <br>| DENVER, CO, USA - GALACTIC DAILY FX UPDATE<br>| <br>| SUMMARY<br>| The dollar is lower against all major counterparts this morning, driven<br>| largely by a steep slide against the yen. Greenspan calmed markets this<br>| morning, by stating that the US is far from experiencing a credit crunch and<br>| re-assuring markets that the economy is still quite strong. Though he did<br>| admit that the outlook for 1999 had weakened immeasurably as a result of the<br>| ongoing global crisis.<br>| <br>| EUROPE<br>| The German mark reached 20 month highs against the dollar in last nights<br>| sell off. Bundesbank President Tietmeyer rejected calls for lower interest<br>| rates by the German central bank, saying that European rates must converge<br>| at the German level for the European Monetary Union. He further stated that<br>| Germany and the US were in different situations and cautioned that Germany<br>| should not necessarily follow the US model for setting interest rate levels.<br>| British PM Blair spoke in Beijing on Wednesday, calling on Japan to take<br>| urgent action to strengthen its financial system. Blair also made comments<br>| suggesting that the G7 make a fresh commitment to strong international<br>| growth and stability. Reading between the lines many analysts see a subtle<br>| prompting for the Bank of England to ease rates as their policy body meets<br>| Thursday. However, the inflation cautious Monetary Policy Committee is<br>| likely to cut rates only a token amount, if at all.<br>| <br>| ASIA<br>| Dollar collapsed to eight month lows against the Japanese yen overnight,<br>| amid rumors that the Bank of Japan would sell off US treasuries to boost<br>| liquidity among their ailing banks. The US currency was not helped by talk<br>| that US hedge funds were unloading massive dollar positions. Major<br>| technical levels were crushed as the dollar fell over eight full yen before<br>| hitting bottom. Pacific rim dependent currencies such as the Australian and<br>| New Zealand dollars were driven higher in tandem with the yen's move.<br>| <br>| NORTH AMERICA<br>| Canadian dollar also benefited from the dumping of US dollars, gaining a<br>| full three cents off of yesterday's close. Canada is heavily influenced by<br>| the performance of its Pac-Rim trading partners and followed closely behind<br>| movements in the yen and Australian dollar.<br>| </p>
</font></font></font></font></font></font></font></font></font></font></font></font></font></font></font></font></font></font></font></font></font></font></font></body></html></x-html>From ???@??? Wed Oct 07 15:10:08 1998
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Date: Wed, 7 Oct 1998 17:43:00 -0400
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From: "Walt Downs" <knight@xxxxxxxxxxxx>
To: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
Subject: Re: fear and greed technical indicators
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Hi Jack,
I use various hybrids of these indicators all the time with success.
I should, I'm the guy that wrote the article. <g>
Andy Dunn brought up some valid points in his post when he
said that the levels "as is" are too susceptible to whipsaws
in markets other than TBonds. The levels were meant to be
used as an additional confirmational tool to other technical
techniques.
However, I strongly disagree with Andy when he says the levels
do not represent emotion. I suggest tht Andy and others take
a closer look at price movement in ALL markets when near or
at these levels. Also, once these levels are broken to the upside
or downside, and the move is confirmed by a short consolidation
period, the subsequent moves out of that pattern are often
substantial.
Traders currently using these levels are an SP day trader that
trades 100 lots at a time, a stock trader who trades equity levels
in excess of 200,000 dollars, a portfolio manager of a large
Santa Barbara trust fund and many others.
Sometimes it isn't what you make, it is what you don't lose!
monitering of the Fear levels helped the individuals above
save 30 to 40% of their portfolios prior to the stock market
crash.
Indicators are what you make of them. The levels can be an
extremely effective tool when combined with other indicators,
or developed into a hybrid form to suit taste.
Of key importance is that you spend time thinking about the
logical processes that went into the building of the psychological
matrix. These approaches are timeless, and are to my mind the
most important part of the article.
Regards,
Walt Downs
CIS Trading
-----Original Message-----
From: Jack Higgins <jfh37@xxxxxxxxxxxxxxxx>
To: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
Date: Wednesday, October 07, 1998 9:46 AM
Subject: GEN: fear and greed technical indicators
There was an article in the August issue of TASC about an indicator
based on the psychological emotions of fear and greed in trading. I have
always been intrigued with the possibilities of a technical indicator geared
to these kind of emotions in a market. Has anyone traded with this
particular indicator and what kind of results have you achieved?
If you would like, you may respond privately to me at
JFH37@xxxxxxxxxxxxxxxx
Thanks,
Jack
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