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Using the Dow Theory Today

Comments on “Charles Dow’s Theory Still Valid for the 21st Century,” by Jack Schannep, in the September 2012 AAII Journal:

In the sophisticated computer-driven market of today’s world, volatility reigns supreme. Too-big-to-fail investment firms with computerized algorithms can cause market disruptions and massive moves that destroy the basis for any theory, but this is a good lesson in how the market should work if an equal playing field existed (and it may work well—but for small and micro-cap stocks, if such a tracking system exists for them).

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