Forum Archive Index - September 2002

["Nick Kearney" <nickk@quicksilver.net.nz>]

Welcome back Phaedrus....I trust your 'break' away in the woods was
fruitful??????

----- Original Message -----
From: "Phaedrus" <Phaedrus@techemail.com>
To: <Sharechat@sharechat.co.nz>
Sent: Sunday, September 08, 2002 11:32 AM
Subject: [sharechat] DJIA Chart


> 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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