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Hello You are all correct,,(Bob r Don T and BobskC,,)
We most likely will make the highest hi on Monday,,(highest means taking
out the pervious 4 day hi in the SP)
this is mostly because the 2 generals in the NASDAQ intc and MSFT will
have positive and negative effects,,
The NASDAQ is also having a tough time advancing,, and most likely will
stall for a day or 2(and the SP. AFTER making this top)
However it will continue higher,, And so will sp500,,
the NASDAQ should get to 1800 and SP. top 1150
The only fly in the soup could be expiration,, which Most likely Will
effect timing
This week is NOT a good week to trade,, Just catch up on your list of
things to do (and make that spouse happy)
the REAL trend should be more evident AFTER expiration
BE warned and be careful
Ben
p.s the score that BobR posted is not magic,, it is just a sophisticated
way to measure the market,, True buying and selling pressure
the data required is trin,, new hi new low ,, up/down volume,, and
up/down issues,,
----- Original Message -----
From: "BobsKC" <bobskc@xxxxxxxxxxxx>
To: <realtraders@xxxxxxxxxxxxxxx>
Sent: Saturday, October 13, 2001 4:18 PM
Subject: Re: [RT] Gen - distribution?
> I did a little shorting on Thursday at the close and covered Friday
mid-day
> .. I was ready to take another short position or two at the close Friday
> but it's all just too neat. Everyone agrees. Everyone. Be they
> chartists, star watchers, fundamentalists or wave riders, they all agree
we
> are headed to new lows or at least a retest and we are going to do this
> right away. Such consolidation of sentiment scares the hell out of me so
I
> went into the weekend mostly in cash. (One oil stock, one biomed, one
gold
> issue and 85% cash). Even after all my years of trading, I am clueless
> right now and when I'm confused, I'm in cash. Why isn't DIS $8 a
> share? Why isn't CCL $9 a share and how could it go up into that mess on
> Friday? This old dude is going to have to watch for a while count his
> chips until the hand becomes clearer.
>
> All best next week folks,
>
> Bob
>
>
> At 04:00 PM 10/13/01 -0400, you wrote:
> >The only thing is that divergence often leads to another higher high...
Also
> >time is involved.This thing could go even more.. Not disagreeing with you
> >persay, it is difficult to model accumulation and distribution, except on
a
> >cumulative basis on each stock of the index.
> >For the second week in a row, the futures were bought in the dead period
of
> >the day at near average price for the week, That looks to me like people
are
> >working it on the bullish side.
> >
> >It might be that no one is selling for the moment.
> >
> >Don Thompson
> >
> >----- Original Message -----
> >From: "BobR" <bobrabcd@xxxxxxxxxxxxx>
> >To: <realtraders@xxxxxxxxxxxxxxx>
> >Sent: Saturday, October 13, 2001 3:22 PM
> >Subject: [RT] Gen - distribution?
> >
> >
> > > One argument for the notion that the last 7 trading days were more
> > > distributive than accumulative is found in Ben's Profit Taking
> > > Index(proprietary). The PTI configuration looks the same for the OEX
and
> > > NASDAQ even though all the data is totally different. A sell
divergence
> > > between the indexes and the PTI's is seen on both charts.
> > >
> > > bobr
> > >
> > >
> > > To unsubscribe from this group, send an email to:
> > > realtraders-unsubscribe@xxxxxxxxxxxxxxx
> > >
> > >
> > >
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http://docs.yahoo.com/info/terms/
> > >
> > >
> >
> >
> >To unsubscribe from this group, send an email to:
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> >
> >
> >
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>
>
>
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