HDTenEightyP/NetNews huggingface dataset:
From: dans@rehab2.UUCP (Dan Schein)
Newsgroups: misc.invest
Subject: Technical Indicators
Date: 16 Apr 92 23:02:51 GMT
Reply-To: dans@rehab2.UUCP (Dan Schein)
Distribution: na
Organization: Reading Rehab Hospital, Reading PA


   
    Daily on CNBC's Market Wrap (~4:30) they present Roy Bumberg with the
  technical indicator section. He uses the following:

			* Breadth
			* Volume
			* Advance / Decline
			* Daily new High/Low
			* ARMS Index
			* Trend Watch

    My questions (warning novice investor ahead ;-) are:

	1) What is Breadth? How and what numbers are used to calculate it?
        2) Is advance / decline simply one subtracted from the other?
	3) Same question but about the daily high/low?
	4) Is the Trend Watch simply Roy's reading of the indicators?
	5) How are each of the items used (compared against) to indicate a
           positive or negative market indicator?

    Post or e-mail your replies, and thanx in advance! (Suggestions for a
   book to learn this stuff will also be appreciated)
-- 
  Reading Rehabilitation Hospital        _/\_        Those who worked the
  Dan Schein - Information Systems      \    /      hardest, are the last
  RD 1 Box 250                          /_  _\      to surrender.
  Reading, PA 19607                       \/           -= Gary Ward =-

  dans@rehab2.UUCP   -or-   ....{uunet,rutgers}!cbmvax!rehab1!rehab2!dans
From: hd12@ellis.uchicago.edu (hui  dong)
Newsgroups: misc.invest
Subject: FED ease again!!!
Date: 9 Apr 92 17:09:11 GMT
Article-I.D.: midway.1992Apr9.170911.26110
Reply-To: hd12@midway.uchicago.edu
Organization: University of Chicago Computing Organizations

According to CNBC, at about 11:30EST, FED ease fed fund rate target from 4% 
to 3 3/4% (some say could be 3 1/2%), following Canadian's fed ease earlier 
this morning. The DOW went straight up 45 points almost instantly, S&P500
went up 5 points.....

Check the news yourself before any move, I take no responsibility.
Newsgroups: misc.invest
From: tjio@venice.sedd.trw.com (Lee Tjio)
Subject: Re: Stocks newsletter. Netletter!
Organization: TRW Systems Engineering & Development Division, Carson, CA
Date: Tue, 7 Apr 1992 19:47:28 GMT

In article <1992Apr7.182746.28511@cs.umn.edu> prabhak@cs.umn.edu (Satya Prabhakar) writes:
>
>   1. It's likely that professional analysts know more about
>      your company than you do, unless you are working with
>      a company that employs less than 10 employees and has
>      a ledger account for coffee filters. And, in the end it doesn't
>      matter what one thinks, it's what the market thinks!

Do the professional analysts really know more about companies, that 
have more than 10 employees, than the employees themselves?  Maybe
maybe not! One thing to remember is the fact that professional
analysts do not have the time to study ALL public companies.   Another
point is that, depending on your position in the company, you may
know what is going on in the company BEFORE the investor relations
office (which the proffesional analysts contact for info), and
more importantly, BEFORE the the earning goes up. I think
people often prefer to do what the "professionals" recommend them to;
this gives them the pseudo sense of security.  I am not
sure if you are  working for a company or still attending college.
Reality is that ALL companies, including financial institutions, must
follow certain guidelines/red tapes.  And if you ever work for a large
corporations, you'd know that most of these red tapes are counter
productive.  Professional analysts have bosses that they work for,
and they need their bosses approval before they can publish anything.
Not all bosses are willing to place their reputation on the line for
recommending an "unknown" company without strong earning record.
 

>   2. If one is investing in say 500 shars of a company that
>      trades at $3, the commisions getting in and out will be
>      about $50. That's more than 6% down the drain right there!
>      Commisions kill you unless you hold a stock for 10-15 years
>      when the ROI overwhelms the commission if the company survives
>      that long.

Go and check the Discount Brokerage schedules!

>
>   3. Then there is the increased risk of investing in a single
>      stock no matter how optimistic your predictions are.
>

Very good.

>Satya Prabhakar

Lee
From: rbp@investor.pgh.pa.us (Bob Peirce #305)
Newsgroups: misc.invest
Subject: Re: CONTRARIANS
Date: 14 Apr 92 15:33:27 GMT
Reply-To: rbp@investor.pgh.pa.us (Bob Peirce #305)
Organization: Cookson, Peirce & Co., Pittsburgh, PA

In article <1426500159@igc.org> mcaldon@igc.org (McAldon International Inc.) writes:
>
>|I have a couple questions about contrarian investing techniques.  I
>|think I understand the general rationale for this approach -- and it makes
>|sense to me - but I am curious about how you decide when to invest and what to
>|invest in. Do you have some quantitative measures you use to decide when there
>is sufficient gloom, or is it just an intuitive feeling you develop from
>|reading and listening?  (BTW, either of those approaches seem valid to me.)
>
>The idea of contrarian investing goes back a long way and is based on the
>theory that when everyone is bullish, they've all put their wads into the
>market so there's no one left to buy.  This notion is pretty iffy now that
>pension funds, etc., never run out of money.  There was also the theory 
>that the small investor is always wrong so bet against him.  In the days
>before options, that meant bet against odd-lot buyers.  But the case has
>been made after various studies that the small guy is more often right
>than wrong.  I've come to the conclusion that the only safe way to be
>a contrarian is to bet against MY instincts;  if I'm in a rush to BUY,
>BUY, BUY, it's probably time to sell:-)

In _The_Art_of_Contrary_Thinking_, Humphry Neil says it is not enough to
be neagative to popularly held opinions, you must also have a REASON to
be negative.  For example, the small investor is NOT always wrong.  In
extended trends they will usually be right over a large percentage of
the trend.  They tend to be wrong at the turns.  What you want is a
declining market which the public has been willing to buy.  If they
suddenly swing toward the sell side (or even significantly less buying)
AND your analysis indicates a host of other reasons why you should be
buying at that point, then you probably have a valid opinion against
which to be contrary.

Discerning these things objectively was a lot easier before the creation
of the option auction market and financial futures.  I find it damn near
impossible today.  My own opinion is sentiment is the very best method
available to help discern the turning points.  Unfortunately, I have
been without such a tool for several years.  I may never find another.
-- 
Bob Peirce, Pittsburgh, PA         rbp@investor.pgh.pa.us         412-471-5320
venetia@investor.pgh.pa.us [NeXT Mail]  !uunet.uu.net!pitt!investor!rbp [UUCP]
Newsgroups: misc.invest
From: patti@hosehead.hf.intel.com (Patti Beadles)
Subject: Machine-readable financial pages?
Originator: patti@hosehead
Reply-To: patti@hosehead.hf.intel.com
Organization: Intel Development Tools Operation, Hillsboro, OR
Distribution: usa
Date: Fri, 17 Apr 1992 18:25:13 GMT

Is it possible to get a complete listing of something like the WSJ
stock listings in machine-readable format (without spending an arm and
a leg?)  I can pull individual stocks from CompuServe at essentially
no cost, assuming I know what stocks I'm interested in.  What I'd like
to do is be able to scan through listings with some arbitrary parameters
(say price >$150, PE < 3, trading at less than 1/2 of what it was three
weeks ago.)  The software is no problem, but I don't have the data.

Ideally I'd like to get a daily snapshot once per week.
-- 
patti@hosehead.hf.intel.com | I don't speak for Intel, nor vice-versa.
   75555.767@compuserve.com |
             (503)-696-4358 | A1: Yes, I'm the one with the big fishtank.
or just yell, "Hey, Patti!" | A2: A lot, a lot, yes you can see it sometime.
Newsgroups: misc.invest
From: manoj@novell.com (manoj @ Messaging Product Marketing)
Subject: Macintax for sale 
Organization: Novell, Inc.
Date: Thu, 9 Apr 1992 19:06:16 GMT

I have an original set of macintax disks for Federal Tax returns.
It has most forms and runs on Macintosh. 
Paid $59, Available for $29 or best offer

pl call 408 473 8369 or email to manoj@novell.com
---------
Organization: University of Maine System
Date: Monday, 6 Apr 1992 21:06:36 EDT
From: Robert Roxby <RROXBY@MAINE.MAINE.EDU>
Newsgroups: misc.invest
Subject: Re: Currency trading
Distribution: world

If you have to ask, you can't afford it.
From: rc@cbnewsh.cb.att.com (richard.chan)
Newsgroups: misc.invest
Subject: Telephone Switch Newsletter
Date: 13 Apr 92 13:56:21 GMT
Distribution: usa
Organization: AT&T

Does anyone have any information or experiences with this newsletter?
They claimed to have a system which predicts the market with reasonable
accuracy.

Richard Chan
From: jchen@ftrooper.NoSubdomain.NoDomain (Jason Chen)
Newsgroups: misc.invest
Subject: What happened to Exceptional Technology Stocks daily post?
Date: 10 Apr 92 14:34:44 GMT
Reply-To: jchen@ctt.bellcore.com
Organization: Bell Communications Research

I have not seen it for two days. Keep posting it please!
-- 

C. Jason Chen                 
**************E-Mail: jchen@ctt.bellcore.com
**************V-Mail: (908)699-6993
**************P-Mail: 444 Hoes Lane, 1E229, Piscataway, NJ
Newsgroups: misc.invest
From: bible@iastate.edu (Anthony E Bible)
Subject: Re: correction is nigh
Organization: Iowa State University, Ames, IA
Date: Fri, 10 Apr 1992 21:50:04 GMT

In article <SDL.92Apr10131337@rigel.linus.mitre.org> sdl@linus.mitre.org (Steven D. Litvintchouk) writes:
>
>In article <34128@unix.SRI.COM> Ari_Kornfeld@QM.SRI.COM (Ari Kornfeld) writes:
>
>> A true contrarian would invest in CDs since that's what everyone is
>> getting out of.  :-)
>
>As a true contrarian, I have invested in Lexington GoldFund (a mutual
>fund that invests in gold bullion and gold stocks).  When gold prices
>dropped, and everyone started saying that we were in a deflation, is
>when I started investing.
>
>


	I have a couple questions about contrarian investing techniques.  I
think I understand the general rationale for this approach -- and it makes
sense to me -- but I am curious about how you decide when to invest and what to
invest in.  Do you have some quantitative measures you use to decide when there
is sufficient gloom, or is it just an intuitive feeling you develop from
reading and listening?  (BTW, either of those approaches seem valid to me.)
And the second question is how do you decide what to invest in?  There was the
tulip craze in Holland (when? 1800's maybe?) which went bust, and I am sure
people were mighty gloomy about tulips after the crash, but the price of tulips
never recovered to anything like their original level.  Anyway, the point to my
question is, what other factors, if any, beside being out of favor determine
whether or not you invest in something?


Regards,
tony
Xref: sparky misc.invest:6829 sci.econ:3767
From: ajayshah@almaak.usc.edu (Ajay Shah)
Newsgroups: misc.invest,sci.econ
Subject: Chartism -- charlatans?
Date: 14 Apr 1992 20:50:28 -0700
Organization: University of Southern California, Los Angeles, CA
NNTP-Posting-Host: almaak.usc.edu

cjkuo@locus.com (Chengi Jimmy Kuo) writes:

>analysis.  I hope that if you read enough of these posts, you'll at least
>understand it.  Then you can make a judgment for yourself as to whether
>you believe in it.  That's a separate issue than understanding it.

>Earlier, in a different debate, I made the mention that technical analysis 
>was a study of mass psychology, not of charts.  Let me try to translate the 

How do you deal with the fact that _every_ single time an academic has
carefully investigated claims by any chartist of "systematically
beating the market", those claims have been proven false?

I have never been able to see a coherent theory in any chartist scheme
I looked at.  I mean, they aren't even trying the "reasonable but
misguided things" like removing high frequencies in a fourier
spectrum.

It is always absolute mumbo-jumbo.  You have to take the chartist at
face value -- there is no earthly reason why scheme X should work.  If
I were less charitable I would call is downright fraudulent.
Chartists wear the garb of mathematics and try to bask in the glory of
it's tremendous prestige and success.  Most buyers of their talents
can't distinguish a terrible model from a good one, so the garb works
pretty good.

Considering what is known about prices being a random walk, I guess
folks who do investment for a living would clutch at straws.  Just
like it is not in the interest of the like of Microsoft to have
computer-literate users, it is important for the zillion investment
consultants and newsletters to make the peasants feel there are some
incantations which the peasants can't figure out themselves.

        -ans.
-- 

Ajay Shah, (213)749-8133, ajayshah@usc.edu
Xref: sparky misc.invest:6723 sci.econ:3675
From: achiang@cygnus.intel.com (Albert Chiang)
Newsgroups: misc.invest,sci.econ
Subject: Novice Mutual Fund Question: Growth vs Income
Date: 1 Apr 92 23:10:09 GMT


Hello,


I started following this group only recently, so if this topic has been
brought up before, please forgive me. Now the questions:


What is the difference between a Growth Fund and an Income Fund? To me,
it seems that one emphasizes on paying a periodic dividend, where   the
other emphasizes increasing the Net Asset Value.

The confusion comes when I read the prospecti. It seems like the only 
difference between the two is that one  distributes  more  (thus less
remains in the fund), whereas the other distributes  less  (thus more
remains in the fund to increase the NAV).

If I choose the automatic reinvestment, it seems that there would be
no differences. So why the distinction? Tax considerations?  Thanks!



Albert


Albert Chiang                       |       Hate is Contagious....      |
achiang@sedona.intel.com            |       So is a Smile   :)          |
From: bitbug@netcom.com (James Buster)
Newsgroups: misc.invest
Subject: Re: Rudman on the federal debt
Date: 16 Apr 92 04:32:12 GMT
Distribution: usa
Organization: Lynx Real-Time Systems, Inc.

In article <1992Apr9.182106.24471@cbnews.cb.att.com> pmd@cbnews.cb.att.com (Paul Dubuc) writes:
>
>In the April 1992 issue of The Atlantic there's an interesting article
>by Neil Howe and Phillip Longman entitled "The Next New Deal".  They talk
>about reforming the federal system of entitlements.  The authors see the
>basic problem with the present system is that it favors the affluent over
>the poor, the old over the young and consumption over savings.

I note that, in many cases, the `affluent' and the `old' are largely
intersecting sets. Thus we see that older people control most of the
wealth in this country, and therefore have crafted a system of
government for themselves, with the young paying for it. It is
hardly surprising that, partially because of the high tax burden,
young people in this country have difficulty saving.
-- 
				James Buster
			     bitbug@netcom.com
Organization: University of Maine System
Date: Thursday, 16 Apr 1992 14:27:16 EDT
From: Robert Roxby <RROXBY@MAINE.MAINE.EDU>
Newsgroups: misc.invest
Subject: Re: know of a german fund, anyone.

I looked at the closed-end German stock funds about a
year ago and found that, although they exhibited significant
differences in price, as the previous post points out, they all
had the same stocks in them.  It mystifies me why the Germany
Fund was selling at a small premium and Future Germany was
offered at a discount.  Any ideas, anybody?
From: hal@pollux.cs.uga.edu (Hal N. Brooks)
Newsgroups: misc.invest
Subject: Intelligent Electronics (NASDAQ INEL), BizMart stores ???
Summary: information sought on BizMart stores
Keywords: INEL, Intelligent Electronics, BizMart
Date: 14 Apr 92 02:41:45 GMT
Distribution: usa
Organization: University of Georgia, Athens
Originator: hal@pollux


Has anyone got any opinions on BizMart computer superstores?
Are they any good?  Good prices?  Knowledgeable personnel?  
Good service?  Good selection?  Comparisons to other such
stores in your area?

We have CompUSA and Computerland Express stores in this
area, but no BizMart.

I understand that Intelligent Electronics (NASDAQ INEL)
has a chain of computer superstores named BizMart.
They've just opened 4 more, bringing the total to 79 in 13
states and 34 markets, mostly (I believe) in CA and AZ.

Any other information regarding INEL as a stock pick would
be welcome.  

=============================================================================
 Hal N. Brooks     Voice: (706) 546-7792     Internet: hal@pollux.cs.uga.edu
=============================================================================
From: v098p82f@ubvmsb.cc.buffalo.edu (NEUTRINO)
Newsgroups: misc.invest
Subject: correction is nigh
Date: 9 Apr 92 14:18:00 GMT
Article-I.D.: acsu.1992Apr9.131929.9864
Organization: University at Buffalo
News-Software: VAX/VMS VNEWS 1.41


hello folks,
   AS you are all aware, the market has seen a big decline over the past two 
days. The big question is, is this the market correction we have all been 
expecting, or is it just an indicator of edgyness out there? This 
"correction" wa only about 4%.....seems like either a really small
correction or a relly big tantrum!

What are your thoughts?  Also, what would a true contarian do at this time?

Thanks 
joe falcone
v098p82f@ubvms.cc.buffalo.edu 
Newsgroups: misc.invest
From: jedwards@ms.uky.edu (Jonathan Edwards)
Subject: Re: Ross Perot
Date: Wed, 8 Apr 1992 22:45:21 GMT
Organization: University Of Kentucky, Dept. of Math Sciences
X-Bytes: 

judy@evolving.com (Judy Bettinger) writes:

>Does anyone know what the 800-number is for the Perot campaign?  
>If nothing else, I'd like to see another choice on the ballot in November.  
>(Please post, as I suspect others might also be interested.)

1-800-685-7777
From: g-martin1@uiuc.edu (Gregory A. Martin)
Newsgroups: misc.invest
Subject: Fin Hlth Sci, 20th Cent Ultra plummet
Date: 7 Apr 92 00:02:13 GMT
Article-I.D.: ux1.1992Apr7.000213.23579
Reply-To: g-martin1@uiuc.edu (Gregory A. Martin)
Organization: University of Illinois at Urbana
Originator: gamg6900@uxa.cso.uiuc.edu

Recently I have noticed that Financial Strategic Health Sciences and
20th Century Ultra have been getting hammered while the Dow is keeping
fairly constant. Anyone have explanations for the 15% drops since
January?   ---- Greg Martin, g-martin1@uiuc.edu
From: neilf@natinst.com (Neil Feiereisel)
Newsgroups: misc.invest
Subject: Last minute (4/15/92) IRA
Date: 8 Apr 92 18:00:03 GMT
Distribution: usa
Organization: National Instruments, Austin, TX

My wife and I are looking to put $2,000 into an IRA to save on our 1991 taxes,
and I've heard that we can do this as late as 4/15/92, and still deduct this
amount on our 1991 return.

My question is if I file for the standard 4 mo. extension ,can we set up the 
IRA after 4/15, but before filing the return?  An investment advisor teaching a 
local investment class made it sound like I didn't have to rush to meet the 
4/15 deadline as long as I had an extension to file my 1991 return.

Anybody know for sure or know where I could find out?  
Thanks in advance.

Neil Feiereisel
neilf@natinst.com
From: breid@pyrhard2.eng.pyramid.com (Bill Reid)
Newsgroups: misc.invest
Subject: Re: CONTRARIANS
Date: 14 Apr 92 19:15:41 GMT
Organization: Pyramid Technology Corporation, Mountain View

In article <1992Apr14.153327.7228@investor.pgh.pa.us> rbp@investor.pgh.pa.us (Bob Peirce #305) writes:
>
>Discerning these things objectively was a lot easier before the creation
>of the option auction market and financial futures.  I find it damn near
>impossible today.  My own opinion is sentiment is the very best method
>available to help discern the turning points.  Unfortunately, I have
>been without such a tool for several years.  I may never find another.

I am typically very skeptical of the widely held notion that financial 
options and futures are fundamentally changing market trading patterns 
for anybody but day-traders.  However, yesterdays dam-burst in Chicago was 
interesting, because it apparently resulted in at least a 1/3 decline 
in NYSE volume (to 143mil shares).  I would still disagree with the 
proposition that price volatility on any time scale other than hourly has 
increased over the last ten years with options/futures trading, because 
I have run volatility studies going back 25 years, and there is actually 
LESS volatility these days.  Whether this is due to options/futures, or 
the ascendence of tax-sheltered mutual/pension funds, or some combination 
of both, or other things, money is apparently flowing into the market 
with more monotonous regularity than at any time in this generation.  

If you want the turning point, look for rising inflation and higher interest 
rates (there have been some warning shots across the bow in these areas 
recently).  After a suitable lag, you will see a repeat of the market 
collapse of the early seventies.  By the time the sentiment turns, it may 
be too late to salvage but a portion of your portfolio.
From: McAldon International Inc. <mcaldon@igc.org>
Newsgroups: misc.invest
Date: 16 Apr 92 19:52 PDT
Subject: Re: wanted: name of promising new drug
Nf-ID: #R:1992Apr16.182644.19178@acsu.buff:-2100261699:cdp:1426500162:000:1412
Nf-From: cdp.UUCP!mcaldon    Apr 16 19:52:00 1992


|for its production.  I can't remember the name of the drug, and I was hoping
|somebody else might.  I think it's something like "tyramidine" or "toranide"
|or something like that.  I need to know the name so I can begin to research
|the drug to find out which companies make/will make it so that I can invest
|in them.  The drug, as it is used now, can only be extracted from the bark
|of a tree (which one, I also forgot), so it is too expensive for widespread
|use, but that may change before too long.

                  
The drug is Taxol, originally available only from the bark of the
Pacific yew but now extractable from the rest of the tree also. It
reportedly will soon be available through synthesis.
                
|Can anybody help me out with the name of this drug, and maybe which companies
|are working on genetically engineering it for mass production?  It seems like
|a superb potential investment, to me.
| John Schutkeker

Taxol is a Bristol-Myers (BMY) product and is, I believe, specifically
appropriate for breast cancers.  I doubt it will have much effect on
BMY profits, which is already a hugely successful pharmaceutical and
OTC drug purveyor.

                         |        Vote for the environment          |
|    mcaldon@igc.org     |        Vote against Bush/Quayle          |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
              
            

Newsgroups: misc.invest
From: suhre@meltami.dsd.trw.com (Maurice E. Suhre)
Subject: Re: MUTUAL FUNDS
Organization: TRW, INC.
Date: Fri, 10 Apr 1992 22:05:50 GMT

In article <1992Apr8.200041.2725@timessqr.gc.cuny.edu> met@cunyvms1.gc.cuny.edu writes:
>DOES ANYONE KNOW ANY PUBLICATION (JOURNALS/TAPES, ETC) WHICH
>CONTAINS MUTUAL FUND DATA?

Your caps lock key is stuck.

The Handbook for No-Load Fund Investors is published yearly by

	The No-Load Fund Investor, Inc.
	Post Office Box 283
	Hastings-on-Hudson, NY 10706

	914-693-7420

From time to time, Forbes, Money Magazine, etc have Mutual Fund ratings.
There is also a fairly extensive daily mutual fund report in Investors
Business Daily.

There is a big mutual fund (Lipper report) quarterly in Barron's.
-- 
Maurice Suhre
suhre@trwrb.dsd.trw.com