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Hello Duke,
thanks for clarification of the issue. your chart did not come thru.
can you post again? thanks.
Best regards,
Jim Johnson mailto:jejohn@xxxxxxxxxxx
--
Monday, June 3, 2002, 10:41:01 AM, you wrote:
DJPM> Earl,
DJPM> Paul Desmond's current thesis is not based on the small or large cap
DJPM> argument but that the NYSE has been proliferated with non-operating
DJPM> companies. CEFs and the like. Lowry's has developed their own index based on
DJPM> just the operating companies of the NYSE and this appears to be more
DJPM> effective in measuring the "true
DJPM> Breadth" of the market. Of course only time will tell. There are plenty of
DJPM> other in your camp regarding decimalization like Alan Newman (H.D. Brous
DJPM> Co.) who have voiced their concern over the effectiveness of the AD line.
DJPM> At this point I am leaning towards the camp that says that a true operating
DJPM> companies AD line still has merit and can be an effective tool. Enclosed is
DJPM> a sample of the NYSE Operating Co. Breadth chart.
DJPM> Best Regards,
DJPM> Duke
DJPM> "The Secret to the Market is Rotation, Rotation, Rotation." The Frost Sector
DJPM> Rotation Fund is part of the Frost Bank family of Funds. (CFR-NYSE)
DJPM> -----Original Message-----
DJPM> From: Earl Adamy [mailto:eadamy@xxxxxxxxxx]
DJPM> Sent: Monday, June 03, 2002 9:24 AM
DJPM> To: realtraders@xxxxxxxxxxxxxxx
DJPM> Subject: Re: [RT] Lowry Intensity indicator - MTA Award
DJPM> Thanks for the link to this year's MTA award.
DJPM> In my book, the major controversy in use of breadth has nothing to do with
DJPM> number of small versus large stocks ... the very concept of measuring
DJPM> breadth is to see if the tide is lifting/lowering all boats or just a few.
DJPM> The real issue is decimalization which has radically changed the meaning of
DJPM> an advance/decline from 12.5 cents minimum to 1 cent minimum. Given the long
DJPM> term upward bias of advances, decimalization has obfuscated the value of
DJPM> this indicator. For this reason, daily breadth has lost value, however
DJPM> weekly breadth remains useful.
DJPM> Earl
DJPM> ----- Original Message -----
DJPM> From: "M. Simms" <prosys@xxxxxxxxxxxxxxxx>
DJPM> To: "RealtradersList" <realtraders@xxxxxxxxxxxxxxx>
DJPM> Sent: Wednesday, May 29, 2002 7:32 AM
DJPM> Subject: [RT] Lowry Intensity indicator - MTA Award
>> Paul Desmond of the Lowry Reports fame won the recent MTA 2002
DJPM> award.......
>> and below is a related article with a consensus "expert TA" market
DJPM> opinion.
>>
>> http://biz.yahoo.com/rc/020523/markets_stocks_technicals_1.html
>>
>> Attached is Paul's winning entry.....
>>
>> comment: since his indicator uses breadth, there is some controversy as to
>> it's validity in recent years.....
>> due to the larger number of small cap issues in the NYSE.
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