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Here's another little indicator that is interesting to watch: today was
first day in I think 8 where the last hour was down, not up. If BobR or
Clyde want to code this up, create an indicator that simply consists of
summing the move over the last hour of trading each day. Plot that over the
index you're measuring. The idea is that retail buys at the open, pros buy
towards the close.
Kent
----- Original Message -----
From: "John Cappello" <jvc689@xxxxxxx>
To: <realtraders@xxxxxxxxxxxxxxx>
Cc: <MedianLine@xxxxxxxxxxxxxxx>
Sent: Thursday, August 01, 2002 9:49 PM
Subject: [RT] Not A Pretty Day
1. NYSE Advancing issues 1232 and Declining issues 1989
2. Nas Advancing issues 1150 and Declining issue 2241
3. Momentum -1.08 vs -0.64 prior day
4. All of days 60 min bars below moving average volume line.
5. Talking Head guest talking about high S%&P PE's relative to
value.Something new right?
6. Negative economic news.
I think I covered my short too soon. But worse days have seen turn
arounds for what appeared to be no good reason.
I thought today would be a 50/50 shot as an up day. Tomorrow I would
not give odds but call them as I see them.
Any other ideas?
John
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