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Strategies & Market Trends : Point and Figure Charting

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To: P. Ramamoorthy who wrote (735)	2/17/1998 12:18:00 AM
From: Ms. X	Read Replies (3) of 34812

Hi Ram, I saw Ben gave you an answer to the question. I'll add some graphics. Here we are in a column of X's at 24. Since we are in a column of X's, the first question we ask is " did the stock move to 25? " 25 ? 24 X 23 X X 22 X O X 21 X O X 20 X O X If yes, we add another X. That is all you do for the day no matter what the low was. Next day we ask the same question "did the stock trade at 26?" Lets say the high was 25.875 and the low was 24. The answer to our first question is no. Now we can ask "did the stock make a three point reversal and trade at 22?" The answer is no so there is no movement on the stock for the day. 26 ? 25 X 24 X 23 X X 22 X O X ? 21 X O X 20 X O X The next day the stock trades at a high of 25 and a low of 21. We know we can't add another X at 26 but can we reverse to 22, yes. 26 25 X 24 X O 23 X X O 22 X O X O 21 X O X O 20 X O X Now that it is in a column of O's your first question is whether the stock traded below the current bottom O. Just do the reverse of the X's up top. I hope this helps. I'll pass the RS question to Dorsey. Jan

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