In 1967, Richard Arms introduced the Short-Term Trading Index in Barron's. The index has been most commonly referred to as "TRIN"; however, today the index appears as "ARMS" on mostquotation systems.The Arms index has changed the way technical analysts perceive the market. In discovering that stock price changes are a function of volume, Arms has made a significant impact on investors' attitudes toward the stock market.In addition to describing the relationships between price and volume, The Arms Index (TRIN) gives a large number of applications the index-and offers specific analytic methods forthe day trader as well as the long-term investor. While the Arms Index was originally applied to New York Stock Exchange data, Arms includes, for the first time:* Arms indices for the over-the-counter market* Arms indices for the American Stock Exchange* the Giant Arms-a combined index for OTC and AMEX* the Bond Arms Index so you can ultimately forecast interest rates.With more than 25 years of experience in the investment business, Richard W. Arms, Jr., is currently vice president and technical analyst with Eppler, Guerin & Turner, Inc. He is the inventor of the Arms Index (also known as the Short Term Trading Index or TRIN) which is an integral part of Wall Street Week "Elves Index" and is carried on the Financial News Network (FNN) tape as "ARMS."Mr. Arms has also invented Equivolume Charting-the first new method of charting since point and figure was introduced in the 1930s-and a number of proprietary market indicators. He is thepublisher of "Volumetrics," an advisory service, and the author of two other books, including Volume Cycles in the Stock Market (Dow Jones-Irwin). His articles have appeared in many national publications, including Barron's and Pension and Investing Age. He appears often on FNN and has been a guest on Wall Street Week with Louis Rukeyser.