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: Rich1 who wrote (4670)	1/11/2000 10:12:00 AM
From: Ms. X	Read Replies (2) of 9427

As you all know the advance decline line has reversed up. The OPTI is gaining strength daily and isn't far, again, from reversing back up. Should the OPTI reverse up with the other short term indicators in X's we are at the beginning of what will probably be a nice run. Of course I don't mean the Dow and the Nas but a broader selection of stocks. Remember in the past I've said that volatility creates opportunities for new buy signals. We went through some pretty tough days but all they did is set the charts up for some buy signals at much lower levels and pull backs for entries. I don't think everyone is conditioned completely for this and it is very hard to take the emotions out of investing especially if you are a Dow or CNBC watcher. But, in watching the indicators we had the comfort of the short term staying positive and the NYSE BP staying put. There were a lot of questions as to whether the NYSSE BP really measured the market and if it "predicted" the market pullback early last week. Well, the OPTI was in O's so that suggested the market could pull back and that there was some volatility. So yes, we had some indication that things could get hairy. As to the NYSE BP. What it was telling was not that there was going to be some pull backs but rather if there were, the longer term picture was still fine. This is important. When the market corrects like that and you need a blanky look to the indicators. Try and be objective, watch the charts. ARe they breaking down or are they pulling back to support? Don't panic, act appropriately if you must and stay on top of things but don't assume. Lot of assuming going on out there when the market pulled back. Also, a lot of you did a great job entering positions after the market pulled back. This is just what you are supposed to do. Not often do opportunities that big come around. You may get three box or little pull backs in your fave stocks but 40 points or more on some of these high flyers - not to mention 10pts on Cisco! Damn! How often does that come around?!

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