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Strategies & Market Trends : Point and Figure Charting

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To: Tommy Dorsey who wrote (22081)	7/1/1999 3:33:00 PM
From: Nanchate	Read Replies (1) of 34811

Tom, I have a question concerning your charting of ASTN yesterday. ASTN went to 10 1/4 on the low in the morning making a 3 box reversal to the downside, but I see your charts at DWA don't show that? I used my Chartcraft and drew in the 3 box downside reversal to 10 1/2. The stock then ran up to 12 3/4 but I ignored it as "noise". I patiently waited until today in seeing the 12 to then put my X's in for an upside reversal and just recently here now another X to 12 1/2 and if we print 13 today we will have a breakout. Is there a situation I am not aware of where I should have ignored that downside reversal yesterday and instead have printed the 12 1/2? Thanks, Nanchate

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