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A case against the Dow Theory

 
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dknoester
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Joined: 29 Jul 2005
Posts: 164
Location: Ontario
PostPosted: Mon Nov 13, 2006 12:18 pm    Post subject: A case against the Dow Theory Reply with quote
From Leavitt Brothers:

Happy Monday,
Today we revisit a subject we've talked about in the past...the Dow Theory and why it's meaningless today.

You are welcome to post this and pass it on as you wish.

http://www.leavittbrothers.com//chartspeak/ChartSpeak_111206.pdf


Good Trading,
Leavitt Brothers

DK
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HenryTo
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Joined: 06 Aug 2004
Posts: 11707
Location: Los Angeles, California
PostPosted: Mon Nov 13, 2006 12:30 pm    Post subject: Reply with quote
Hi DK,

These guys have it all wrong about the Dow Theory - for one thing, the "confirmation" between the Dow Industrials and the Dow Transports is only one indicator and is subject to intepretation - and it is only a secondary indicator at best. We include it on a weekly basis on our commentaries because there is still definitely value being added.

I think this specific "criticism" has been circulating around the web in one form or another over the last couple of years. See my rebuttal on this in a March 27, 2005 post on the Dow Theory board:

http://www.marketthoughts.com/forum/viewtopic.php?t=249

Nothing like stirring up a bit of controversy in order to enlist more subscribers.

Take care,

Henry
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