Go to Jeff Salisbury LWGate Home Page.From: "Katherine Malm" <kmalm@earthlink.net>
Subject: RE: [CANSLIM] market bottom
Date: Fri, 2 May 2003 22:25:44 -0500
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This is a multi-part message in MIME format. - ------=_NextPart_000_0034_01C310F9.C5A19CF0 Content-Type: text/plain; charset="iso-8859-1" Content-Transfer-Encoding: 7bit Hi Roger, This may shed some additional light on the subject: ==== Ask Bill O'Neil Friday, May 2, 2003 "When checking for distribution days in the Dow Jones Industrial Average, do you use the market volume or the DJIA volume?" To analyze the Dow, IBD uses the NYSE Composite volume rather than the Dow's volume. The idea is that when looking at a market index you want to examine market volume. It's for this same reason that IBD uses NYSE volume to gauge the S&P 500, which is made up mostly of NYSE stocks. The S&P 500 and Dow charts on investors.com also use NYSE volume. ===== - --Katherine > -----Original Message----- > From: owner-canslim@lists.xmission.com > [mailto:owner-canslim@lists.xmission.com] > Sent: Friday, May 02, 2003 8:06 PM > To: canslim@lists.xmission.com > Subject: RE: [CANSLIM] market bottom > > Hi all, > > Fyi, here is email thread with Bill: > > -----Original Message----- > From: WmGraLee@aol.com [mailto:WmGraLee@aol.com] > Sent: Friday, May 02, 2003 9:02 AM > To: Roger Tawa > Subject: Re: Market Tester question (fr-ws) > > I think you could be right -- it might explain why backtesting shows > better results for the NAS. > > In a message dated 4/30/2003 9:13:39 AM Central Standard Time, Roger Tawa > writes: > > > > Subj: RE: Market Tester question (fr-ws) > Date: 4/30/2003 9:13:39 AM Central Standard Time > From: Roger <mailto:rogerta@softimage.com> Tawa > To: WmGraLee@aol.com <mailto:WmGraLee@aol.com> > Sent from the Internet > > > > Hi Bill, > > > > Yes, I have confirmed this with csi. Here is my email conversation with > them. Could this explain why you feel the market tester works best with > the NASDAQ market than other markets? Thanks. > > > -----Original Message----- > From: WmGraLee@aol.com [mailto:WmGraLee@aol.com] > Sent: Wednesday, April 30, 2003 8:47 AM > To: Roger Tawa > Subject: Re: Market Tester question (fr-ws) > > > > HI Roger -- > > You raise some good points. Who did you talk to at csi? Also, do you or > csi know of any data services that do report Dow, S&P 500 etc volume? > > Bill > > In a message dated 4/29/2003 8:18:26 PM Central Standard Time, Roger Tawa > writes: > > > > > Subj: Market Tester question (fr-ws) > Date: 4/29/2003 8:18:26 PM Central Standard Time > From: Roger <mailto:rogerta@videotron.ca> Tawa > To: order@market-tester.com <mailto:order@market-tester.com> > File: winmail.dat (3984 bytes) DL Time (26400 bps): <1 minute > Sent from the Internet > > > > Hi Bill, > > I found out about your market tester from the canslim@lists.xmission.com > <mailto:canslim@lists.xmission.com> email list. I have a question about > your data source. On your methodology page, you say that the market > tester > uses msn, and hence csi data, as a data source. > > However, are you aware that csi data does not calculate volume for > indices? > For example, both the S&P500 and Dow Jones Industrial indices report the > total NYSE volume, not the volume of the indices themselves. I have > confirmed this with csi. The NASDAQ composite index however seems to > report > the total NASDAQ volume, which is probably ok, but this part I have not > confirmed. > > What effect do you think this has on your market tester when used with > indices besides the NASDAQ composite? This does not seem to be in the > spirit of WON's definitions of distribution day or follow through day. > > Looking forward to your response, thanks. > > ================================================= > Roger Tawa > http://tawacentral.net/ > [One thing about paradigms: shift happens.] > [When you stop, you're done.] > > > > > > > ================================================= > Roger Tawa > http://tawacentral.net/ > [One thing about paradigms: shift happens.] > [When you stop, you're done.] > > <snip> - ------=_NextPart_000_0034_01C310F9.C5A19CF0 Content-Type: application/ms-tnef; name="winmail.dat" Content-Transfer-Encoding: base64 Content-Disposition: attachment; filename="winmail.dat" eJ8+IiwDAQaQCAAEAAAAAAABAAEAAQeQBgAIAAAA5AQAAAAAAADoAAEIgAcAGAAAAElQTS5NaWNy b3NvZnQgTWFpbC5Ob3RlADEIAQ2ABAACAAAAAgACAAEGgAMADgAAANMHBQACABcAGQAAAAUAFgEB A5AGABwOAAAkAAAACwACAAEAAAALACMAAAAAAAMAJgAAAAAACwApAAAAAAADAC4AAAAAAAMANgAA 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