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Sorry wrong url its
<BR> http://xeno.licensed.com/clyde/forecasts/index.htm
<BR>gary bodnar wrote:
<BLOCKQUOTE TYPE=CITE>
Hello
<BR>For more clyde's swingmachine charts on various currencies (spot and
crossrates) go to <A HREF="http://xeno.licensed.com/clyde/forecasts/images/index.htm";>clyde's
swing charts</A>
<P>Good Trading to you all..
<BR>Gary
<BR> </BLOCKQUOTE>
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</x-html>From ???@??? Fri Oct 30 11:13:15 1998
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<DIV><FONT size=2>DENVER, CO, USA - GALACTIC DAILY FXUPDATE -
10/30/98</FONT></DIV>
<DIV>
<HR>
</DIV>
<DIV><FONT size=2>SUMMARY</FONT></DIV>
<DIV><FONT size=2>In the U.S., Advanced GDP was significantly higher than
expected; +3.3%<BR>against a 2.1% forecast. Coupled with the G7
announcement of a proposal<BR>aimed at bolstering the global financial system,
markets around the world<BR>have reacted favorably. The Brazilian Bovespa
was up, 6%, Hang Seng +2%,<BR>and presently the DJIA is up 95
points. In the U.S. fixed-income market,<BR>bonds are under duress as the
market contemplates a Business Week article<BR>which suggests that Fed Chairman
Greenspan is strongly considering future<BR>rate reductions; the 30 year
Treasury is off 1 point, yielding 5.08%.<BR>EUROPE</FONT></DIV>
<DIV><FONT size=2>British Chancellor of the Exchequer Gordon Brown said that
there have been<BR>positive developments in the world economy since the meeting
of the IMF<BR>earlier this month. He specifically lauded Brazil and Japan
for their<BR>commitment to improving economic conditions in their respective
regions.<BR>Added Brown, "In Europe we state it will be necessary to push
forward<BR>structural reforms, and in continental Europe preparing for the euro,
to<BR>reduce unemployment, to sustain conditions conducive to robust
domestic<BR>demand."<BR>ASIA/PACIFIC</FONT></DIV>
<DIV><FONT size=2>Across Asia, markets rallied in response to the G7 statement;
the Manila<BR>stock market rose 6% before slightly slipping and the peso broke
through a<BR>major resistance at 40.5. In Korea, a stock market rally was
led the buying<BR>of blue chips including Samsung Electronics; KOSPI +4%.
In Thailand, the<BR>central bank's chief economist, Apachna Waiquiandee, said
that the frazzled<BR>Thai economy may be bottoming out, despite monthly
indicators released on<BR>Friday. The latest data showed surpluses in the
external trade picture,<BR>however private investment and manufacturing indices
have contracted<BR>further. The baht hit a 12-month high this week and the
equity market has<BR>been trending upwards.<BR>AMERICAS</FONT></DIV>
<DIV><FONT size=2>Markets in Latin America gave a sigh of relief after coming
close to<BR>the brink of collapse as recently as yesterday. The MXN gained
8.5 centavos<BR>against the USD on news of the G7 statement. In Brazil, a
delegation headed<BR>to Washington to secure a multi-billion dollar credit line
from the IMF,<BR>seen as imperative to rescue the country's beleaguered
economy. The total<BR>package will be between $30-45 billion, and was only
agreed to once Brazil's<BR>austerity package was announced on Wednesday.
Brazil's plan alone was not<BR>considered sufficient for substantive recovery,
however the additional<BR>bailout funds are being perceived favorably by traders
around the globe.<BR></FONT></DIV>
<DIV><FONT size=2></FONT> </DIV>
<DIV><FONT size=2>The views expressed in this letter are those of Galactic FX
International, Inc. </FONT></DIV>
<DIV><FONT size=2>Our </FONT><FONT size=2>information is based upon diverse
sources that we believe to be reliable,<BR>though the information is not
guaranteed. Our views and forecasts are subject </FONT></DIV>
<DIV><FONT size=2>to change without notice. Galactic FX International,
Inc. may maintain long or </FONT></DIV>
<DIV><FONT size=2>short positions in, and buy and sell, the currencies mentioned
in this letter.</FONT></DIV></BODY></HTML>
</x-html>From ???@??? Fri Oct 30 11:42:18 1998
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From: "charles meyer" <chmeyer@xxxxxxxx>
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Subject: Re: sp500 update
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Alan:
That is usually correct and ATR can probably be highly coorelated
and used as a proxy for volume. One of the principles of Steidelmeyer's
'Market Profile' is that the greater the range, USUALLY the higher the
volume.
Note I said range here and not ATR; which is of course a different
measurement.
Charles.
----------
> From: alan myers <a.myers@xxxxxxxxxxxx>
> To: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
> Subject: Re: sp500 update
> Date: Friday, October 30, 1998 12:03 PM
>
> I once read somewhere that volume and Average True Range are highly
> correlated. I've never done a study that confirms or denies this
> statement. ATR is a lot more versatile for use in a system, though.
> I've not encountered anything that contradicts this claim. Any
> comments?
>
> BrentinUtahsDixie wrote:
> >
> > I thought that there was always some kind of a secret that could unlock
the
> > riddle of trading in Volume and Open Interest. But after years of
looking
> > there are only a few week applications that have made sense. Here is
one if
> > the V is up and the OI is up and the prices is up then the trend if up
is
> > confirmed. Just turn that around V up OI up and Price down a down trend
is
> > confirmed.
> >
> > Brent
> >
> > ----------
> > > From: charles meyer <chmeyer@xxxxxxxx>
> > > To: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
> > > Subject: Re: sp500 update
> > > Date: Friday, October 30, 1998 7:21 AM
> > >
> > > Ben, Earl, & Group:
> > >
> > > The most striking aspect of
> > > > this huge rally is the lack of volume and failure of OBV to confirm
the
> > > > rally - this is especially noticeable in the S&P futures and SPY.
> > >
> > > Anyone out there who has been able to solve the riddle of the inter-
> > > relationship between price and volume? I am a Wyckoff
student--before
> > > that a Don Wordon student. I have a great file on volume information
> > > but am baffled and confounded by Earl's observation; have been for a
> > > long time. The Wyckoff explanation just doesn't seem to work in real
> > > time--volume can be very misleading. I always wanted to believe Joe
> > > Granville's statement that 'price leads volume' but can't get a
handle on
> > > how to trade it. Perhaps the best answer, from someone I respect,
was
> > > the idea that I put too much emphasis on volume. Seems it is so easy
> > > to manipulate volume and the stats are skewed by program trading and
> > > option activity. Comments?
> > >
> > > Charles.
> > >
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