SPDR S&P 500 (SPY)

[MetalFillBoy]

Glenn,

You can, but you will still come up with the same answer. Going back to my previous example with the IYY and AGG, I showed that AGG is outperforming IYY. Because if this ratio is going down (current column is O's) this means that the denominator (AGG) is going to outperform the numerator(IYY).

IYY
---- = declining ratio (current column is O's)
AGG

If you flipped the whole thing, you would get a current column of X's, and the numerator(AGG) would outperform the denominator(IYY), which is the same answer as before.

AGG
---- = rising ratio (current column is X's)
IYY

Here is a chart:



And the previous chart:



Hope this makes some sense; maybe someone else could explain in a more simplified way.

Wow! Looks like I should have held onto my long. Grrr...

Good luck!