Posted by ameritrader on 3rd of May 2008 at 01:28 pm
To blumooncurrency
The $BP means a Bullish Percent Index of other index. ENER is
for oil and oil services index.
The $BP shows for of all the companies in the index, how many
are bullish versus bearish. With a $BP index, all the companies
have an equal weight of one.
In most "normal" indexes like XLE, they are "weighted" In XLE is
EXXON which is the largest of all the other companies. In XLE when
EXXON moves up or down it has a very big impact on the "weighted"
index. In can hide what the other companies are doing.
Stockcharts is one of the few charts services charting $BP. I
contact Fidelity, Schwab, TDAmeritrade, & Scottrade, only
Schwab was willing to load up the $BP upon requested!
For more info, I suggest you search this site, google, review
help at Stockcharts and most important look at Matt’s AWESOME
training video on using the $BPENER as a trading tool.
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To blumooncurrency The $BP means a
BPENER
Posted by ameritrader on 3rd of May 2008 at 01:28 pm
To blumooncurrency
The $BP means a Bullish Percent Index of other index. ENER is for oil and oil services index.
The $BP shows for of all the companies in the index, how many are bullish versus bearish. With a $BP index, all the companies have an equal weight of one.
In most "normal" indexes like XLE, they are "weighted" In XLE is EXXON which is the largest of all the other companies. In XLE when EXXON moves up or down it has a very big impact on the "weighted" index. In can hide what the other companies are doing.
Stockcharts is one of the few charts services charting $BP. I contact Fidelity, Schwab, TDAmeritrade, & Scottrade, only Schwab was willing to load up the $BP upon requested!
For more info, I suggest you search this site, google, review help at Stockcharts and most important look at Matt’s AWESOME training video on using the $BPENER as a trading tool.