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Strategies & Market Trends : Systems, Strategies and Resources for Trading Futures
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To: Jerry Olson who wrote (34277)9/23/1999 4:18:00 PM
From: Patrick Slevin  Read Replies (3) of 44573
 
<heck it's not even OCT>

Tops often hit in August, September. If I recall correctly....well, I guess I could check.

There were a couple of Slams last September on the 9th and 10th.

<when the P&F went bye bye wed nite.>

Nice confirming indicator.....too slow for me, but it's nice to have it as a confirmation. If you think about it, you were beating the drum on the Long side since SP9Z 1370 or 1380. With it Closing around 1290 it's a tad late in making the determination for a Short Sell....but it's still nice to see it confirm.

On the other hand, I was looking at it as a secondary Indicator and what I viewed wasn't, perhaps, kosher. But (using different counts....I had it as 4, not 5 like you do) I saw a Bearish trendline coming down straight from the 1380 area on the Cash. Also, it was quite Plain that there was a Triple Bottom....using the 4 Point Count...at 1300 SPX. Further, the rallies off 1300 were progressively weaker.

So I don't know how you are "supposed" to use PnF, but it worked okay for me as a secondary indicator of trend.

<i will buy this dip tho>

Now that's interesting. Is it PnF that sends that message to you or are we (the Royal We) considering this on a gut feel?
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