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Non-Tech : Dorsey Wright & Associates. Point and Figure
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To: LeoSTI who wrote (3805)12/30/1999 10:45:00 AM
From: Ms. X  Read Replies (1) of 9427
 
Hi Leonard,

Welcome to the thread. We are happy to have you here. Any questions
at all please ask. I saw you asked Tommy to pardon your "silly"
question and I assure you there is no such thing here. Unless you ask
us to compare a banana RS to a Simian sector and then well, you need
professional help...

Only three sips of coffee yet this morning so you'll have to excuse me :-)

AMGN, you are correct, is very extended. Do you have the search and
sort feature with you subscription? That is in the charts plus
service.
If you really like AMGN wait for it to pullback. With this high pole )
above 15 boxes in a single column) you want to wait for the pullback
and then a reversal up. This gives you a good sight line for entering.

Will look like this.

X
X O
X O X <--This is the entry point.
X O X
X O X
X O<--Pullback and new support area.
X
X This gives you a far better guide.
X You know the pullback is over and
X you can see where new support is
X in case you want a stop point.
X With a good fundamental stock and
X a strong technical environment, high
X poles tend to reverse down and then
X back up easily - giving you a chance.
X

In a weak fundamental stock and a weak technical market, the high
pole three box reversal is a good trade exit. Well, that is if you
are trading - the reversal can be a point to hedge your long position,
again depending on the market risk.

Does this make sense? I'll be happy to explain further.

Do you have Tommy's book?
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