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In a message dated 11/2/99 11:31:31 PM Eastern Standard Time,
OnWingsOfEagles@xxxxxxxxxxxxx writes:
<< By this measure, the A/D line bottomed on 12/31/74 at -90,541.
On November 2, 1999 we find ourselves nowhere near either extreme.
Ben, you were around then. Say it ain't so.
If anything, the declining A/D line in a rising market makes stock selection
easier - for it is a simple situation of going with the winners. In a
situation where the AD line is rising AND the market is rising, sector
selection and market timing may have more critical roles to play since one
then wants to be where the best advances are happening.
Again, one finds, it becomes a question of which ones, and not how many.
I mean no disrespect. I do mean for us to know how numbers speak - and
sometimes, are made to speak.
Since I've opened my mouth to size 10, I might as well put my foot into it
by venturing forth this comment about this market:
I see, in the traditional tape reading sense of the word, money flowing into
this market. I do not see a tape where the market is anticipating
armageddon - even in the Internet stocks.
On a day that is supposed to be the top in internet stocks, consider the
following message of the tape as I read it - and tell me where I can
improve:
AOL
Net money flow $190,046,000 positive.
Block volume 5.09 million shares (blocks of 10k and over shares)
Total volume 14.129 million shares, of which
Uptick volume 4.159 million shares
Downtick volume 3.425 million shares
As I understand the above stats: Institutions were active, accounting for
36% of total activity in AOL.
As we well know, institutional sponsorship is critical for any undertaking
to be successful in the stock market.
>>
hello
yes i was around in 1974
and yes seasonality is 66% accurate
(buying an index fund 3-4 days prior to end of month and selling 1ST or
secound day of the next month
BUT past performence is NOT a guarentee for future results
Also
mony flow measured in a quote machine is wrong
see s&c magazine article on page 64
basically accumilation on a stock is only if the purchase price is a:
above yesterday close and b: if it was puchased above todays open
and c: if it was purchased in the UPPER 25% of todays trading range
all 3 conditions must exsisst
if you do obv this way you will have lead time knowlege of what stocks to buy
regards
Ben
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