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I use it as a confirming indicator in my longer term work. Tops in the
broker dealer index not infrequently lead the major indexes down. To me, the
current state of the index is one more confirming indicator not to buy into
the bullish cases being touted by the broker dealer analysts. Now that the
firms are laying off by the thousands, you can be sure that broker dealer
management's believe the economy is in deep trouble. I last remember
brokerage layoffs like this in the early 70's.
Earl
----- Original Message -----
From: "John Nelson" <trader@xxxxxxxxxxxxxxx>
To: <realtraders@xxxxxxxxxxxxxxx>
Sent: Thursday, September 06, 2001 2:12 PM
Subject: Re: [RT] s&p
>
> On a TOTALLY unrelated subject... does anyone know how to interpret and
> use the Broker Dealer Index?
>
> -- John
>
> --
>
> __________________________________________________________
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> John T. Nelson | John's Trading Journal
> trader@xxxxxxxxxxxxxxx | http://trader.computation.org/
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