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Non-Tech : Dorsey Wright & Associates. Point and Figure
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To: Ms. X who wrote (5235)1/21/2000 8:54:00 PM
From: Doppler  Read Replies (1) of 9427
 
Ms. X- Thanks for the reply. I don't have Tommy's book yet but I just read in another book that volume is important to PnF and is used in measuring PO's. That's why we pick the line with the most # of boxes filled in, because it has the heaviest volume. I agree time doesn't really matter much, and that price is paramount in charting, but I have also seen from experience (not in PnF, but in chart reading) that volume is important. I bet if you go back and look at double tops and other breakouts in various charts in the past that you would find that the ones that fail are on lighter up volume, except in the case of a HUGE spike in volume where you get a blowoff capitulation ( I think PnF calls this phenomenon a Pole.) Anyway, everyone has been great so far and I look forward to learning new ways of looking at things as I combine PnF with the things that I have found to work over the years. Thanks, Jeff
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