Depends on what you're trading. Most people don't understand that the indices are moved by a relative handful of stocks, and by handful I mean barely a handul. What matters far more is the movement of the group. And I'd track the movements of the unweighted averages, along with my own indices made up only of those stocks with the greatest influence, at least at the time: MSFT, INTC, CSCO, GE, etc. This enabled me to see what was really going on. However, after moving to futures, all this became largely irrelevant. All that matters there is the price movement, and it doesn't matter what's doing it or why. S is S. R is R. I do track the major indices, like the RUT and the MDY, just to get a sense of what's happening underneath. But the movements of the unweighted averages are no longer on my radar, particularly intraday. What somebody else does or considers important, tho, is another matter.
db wrote,"And I'd track the movements of the unweighted averages." thank you for your time , appreciate it. erie
Mamis posts updated sample issues of his two institutional newsletters every two to three months at http://www.mamis.com/letter.html But when these samples are updated, the ones he posts are only a few days old. They are always good reading. The current samples are from 2/29/04 and 03/03/04.