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

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To: Atin who wrote (5259)1/22/2000 1:45:00 PM
From: Tommy Dorsey  Read Replies (1) of 9427
 
ATin that is putting a real fine piont on the pencil, a day is a time interval but the chart is not necessarily updated on a day, week, month or even a year in some cases. It is the ability of the underlying stock to vary in price that causes the chart to be updated and this movement is not tied to any time frame. This is why volatility is taken out of the P&F chart and left in the bar charts. It is the move that generates the mark on the chart and not the time involved. It may take 6 months, 6 days or 1 year for a certain stock to inch it's way down to another box. I'm sure we could discuss the meaning of "is" all day but you know what I mean. T
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