V. 21:4 (63-65): Working Money: Postitive Volume Index by Dennis D. Peterson

V. 21:4 (63-65): Working Money: Postitive Volume Index by Dennis D. Peterson
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Working Money: Postitive Volume Index by Dennis D. Peterson

Is the primary market trend up or down?

Writing about the positive volume index (PVI) takes me back to when I first started trying to understand the markets. I joined four stock clubs, searched the Internet extensively, and haunted the local library. I still belong to one of the clubs; its members use fundamentals. Even though they donít subscribe to anything as voodoo-like as technical analysis, they do plot data on semi-log charts and use them as part of the decision-making process. I was also able to learn quite a bit at the library. In addition to Robert Edwards and John Mageeís classic Technical Analysis Of Stock Trends, I read Norman G. Fosbackís Stock Market Logic. Fosbackís book hit me, much the same way the stock clubís fundamental orientation contrasted with my technical analysis trading. Fosback didnít see, for example, that there was added gain in going from standard to semi-log charting. The book was not about patterns, or any kind of visual investing techniques, but Fosbackís logic is compelling. But if Fosback likes an indicator, you can be sure it is reliable, and he happens to like PVI.

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