Patrick,
I just finished the last few days dialog on the time issue. I have two points:
(1)Tom Dorsey stated: #reply-12646861 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.
Of course, changing the sampling rate or box size will further enhance this stocks ability to vary in a chartable price. Nobody is arguing that. The keyword here folks is updated! Can we repeat that? U-P-D-A-T-E-D You can have a one minute sampling rate with a .125 box and still not make any chart "prints" if there is no movement in the underlying stock price.
Or, to take it to an nth degree, as some are wont to do. Let's have a 2 second sampling rate with box size of .0078125 (that's 1/128). No price movement, no chart updates.
However, if time was a part of the PnF charts computation, there would "have" to be a "mark" of some sort whether the price moved or not.
(2) The other point is you said Tom Dorsey showed scorn for daytraders. I beg to differ. I have never had any inkling at all that the word or the "concept" is in Mr. Dorsey's vocabulary or demeanor. I CAN NOT nor WILL NOT let it go on this thread without calling you on it.
I believe you wear your feelings on your sleeve Mr. Slevin, and for you to make antagonistic remarks while under the stated premise of not doing so is laughable.
Hey, how do you think I feel? I am one of those jackasses that try to catch a dime in front of a bulldozer. You said it, he didn't. #reply-12648113
Sincerely,
arno
Sorry thread for continuing this debate, but I showed up late to the party and had 2 cents to spend.
I don't speak for anybody other than myself and this is my very humble opinion. |
