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Tom's statement (see below) strikes me as somewhat profound.
He's touched on the reason why I tend to think that
macro-economic numbers don't form a good basis for a trading system
because all such numbers are first filtered by the psychology and
sentiment of traders/investors. You would do better to try and model
traders and trader behavior than economic numbers.
Price on the other hand is a *result* of trader sentiment which makes
price and volume a more reliable basis for implementing a trading system.
IMHO of course...
- Hacker
On Sun, 6 Dec 1998, Tom DeMark wrote:
> dow jones composition changes all the time. the emotional make-up of
> traders is always the same.
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Dark Hacker | Fortress Of Computation
hacker@xxxxxxxxxxxxxxx | http://www.computation.com/pub/hacker/
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