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In a message dated 5/9/1999 11:36:45 PM Pacific Daylight Time,
rajatkbose@xxxxxxxxxxx writes:
<<
I'm just curious. What do you think of using a "Most Active Stocks (MAS) AD
line" along with the conventional broader AD line. I have come accross this
concept of using MAS AD line in Alexander Elder's book--'Trading for a
Living'.
The most active stocks (say top 30 or top 50) are chosen accoring to their
daily turnover in terms of value. >>
snip
Running an onbalance volume on the INDU(30 heavy volume stocks) shows the
recent rally has been confirmed and may be running into trouble. OBV does
have inadequacies yet still appears have value with the INDU stocks. Looks
like we are in for consolidation/correction now that its OBV has pulled back
inside the Bollenger Band and is moving sideways.
BobR
Attachment Converted: "c:\eudora\attach\INDU1.gif"
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