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Strategies & Market Trends : Point and Figure Charting

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To: Smooth Drive who wrote (25424)	7/6/2001 7:49:29 AM
From: Atin	of 34817

Hi Eric, Glad to see you're still around! Our problem is that we can't figure out what an equity position is! For example, we thought we'd be safe just using the stocks listed as "common stock" on the NYSE. But what do we do about closed-end funds? These are listed as common stock on the NYSE, e.g. ACG, AOF etc. The listings are available at nyse.com - look under the alphabetical listing for each company. Should these be considered in the bullish percent calculations too? I would think not but I don't know. What about other trusts like the REITs? These are listed as common stock too. My feeling is that these should stay in the calculation, but I don't know what is expected. How about Class A vs Class B shares? BRKA and BRKB are both listed as common stock, but their charts are identical except for the scale and so I think it is unfair to include them both because then one company gets two votes in the bullish percent calculation. I've also read two different descriptions of the bullish percent. The usual one goes something like: # bullish signals / total number of stocks considered while the other goes something like: # bullish signals / (# bullish signals + # bearish signals) Since there are some stocks that have never showed a signal in the last 5-10 years, the bullish % number starts to depend on what time frame one is using for the calculations and the numbers would be different using the two formulas. None of this is as easy as it sounds in the descriptions in the books! And the others who calculate the bullish percent don't say what they're using as their universe so no one really knows what anyone is talking about! -Atin

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