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Non-Tech : Dorsey Wright & Associates. Point and Figure
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To: Jorj X Mckie who wrote (5291)1/23/2000 10:11:00 AM
From: Patrick Slevin   of 9427
 
Yeah, I'm just scanning a book by A.W. Cohen and another by Earl Blumenthal to see what I can gather about time. These are pretty old books. Seems the concept is that you should read the newspaper and plot charts based on the prices in the Wall Street Journal.

You should see one of these charts, the Martin Company. A hand written Point and Figure Chart from 1950 to 1958. I've seen stocks that moved more intraday than this thing moved in 8 years.

Which is the point. This methodology is from a time when the only way you knew what was happening was to read the paper. If these people had computers that gave you intraday moves they might have been prone to read it intraday as well. All we are trying to do is take that step. The patterns don't change, a Bullish Catapult is the same whether it's viewed intraday or daily.

It seems like a logical extension, and in the arena of today where wide swings are common it might be relevant. At least to some of us, just as you say.
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