DTT Buzz

I read an interesting article yesterday in the March 2008 edition of Technical Speaking. Inside the article the writer addressed the effect that the "no uptick shorting rule" is having on the market; the writer used $TICK (tick index) to express this effect (The tick index is simply the number of advancing stocks trading on the uptick minus the number of stocks trading on the down tick). Since the no uptick shorting was instituted in July 2007, there has been more of a short bias in the market, as well as constantly lower readings. All one has to do is look at the 5 year $TICK chart to see these readings.

Technically Speaking is published by the Market Technicians Association.

Happy Trading,

Keith Greff jr
Trade Analyst