Dorsey Wright & Associates. Point and Figure Message Board

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Non-Tech : Dorsey Wright & Associates. Point and Figure

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To: Margaret Mateer who wrote (622)	10/2/1999 12:00:00 PM
From: Tommy Dorsey	Read Replies (3) of 9427

Great question Peggy. Where you want to go is 1973-1974. The Bullish Percents reacted by staying on defense (0)s for probably 28 of 36 months. The action primarily resulted below the 50% level. During that time the Oil's were very strong as were the oil service stocks so there were some upside plays but shorts were the order of the day. The BP carried anyone who wanted to believe, through that nasty bear market in good shape. It is a time that the NYSE allowed brokers to have a second job, previously prohibited. Many brokers were driving cabs to stay alive primarily because Mr. Jones does not sell short. You can and this is why we did the trading contest with 3 short sales and 3 longs to force everyone who entered it to watch how their stock reacted on a short sale. We need to do more of it as it is a great drill. More to discuss on interest rates during that time but heading to a movie right now so more later. We will address this in full in "from the analyst next week". Good to cover this subject in full, however I don't think its likely but who's predicting? We will put int he Bullish percents during that time so you can count the O's,X's months etc. Tom

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