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Given current concern here and elsewhere about the Market's direction, I
wish to share two quotations from Mike Burk's Daily Market Commentary from
Saturday, October 18:
"There was nothing pretty about Friday. All of the AD lines were weak
new lows increased significantly on all markets to worrysome levels
and the secondaries were weaker than the blue chips.
Since the indicators were all very strong a few days ago, it is likely
that this decline will be relatively mild. The media's reminicing over
the 87 crash is not comforting, but, the technical condition of the market
is very different now than it was then. In 87 the secondaries had been
weak for months, bonds were weak as well as the dollar. The opposite is
true today."
"The value of NH is high enough that MIRAT is not likely to give a sell for
several days."
Mike Burk is MIRAT's author. "AD" refers to the output of a formula
that deals with Advancing and Declining Issues, in this context from
several Markets, while "NH" refers to the output of a formula that deals
with New Highs, also in this context from several Markets. The "AD" and
"NH" used in the algorithms with which MIRAT generates its Buy and Sell
signals are usually composed from data from the New York Stock Exchange.
-- Frank :-)
High Return on Investment using Technical Analysis
http://www.usinternet.com/users/fbg/
Minnesota Long Distance Canoe Racing
http://www.usinternet.com/users/fbg/mnlong/
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