Forum Archive Index - September 2002

[Phaedrus <Phaedrus@techemail.com>]

Brian,
       What a memory - the chart you are referring to was posted nearly a year 
ago! See http://www.sharechat.co.nz/archives/2001/10/msg00171.shtml
 Currently, the Dow is in a short-term downtrend and a medium-term uptrend. The 
longterm downtrend continues, with the Index in a nice tidy trend channel. 
Overall, the situation is quite similar to that of a year ago, and the comments 
I made then still apply. ("The underlying situation has not changed - 
fundamentals are bad (and getting worse) and the Dow is in a Downtrend 
overall.") In keeping with this, in the US I am currently Long in some 
medium-term trades, Short in some short-term trades, and hold about 30% cash.
 Note how well an oscillator such as the Relative Momentum Index keeps you on 
the right side of the trend, in the medium term. This is useful confirmation 
should you need it.
        Regards,
                  Phaedrus.
 

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