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: Connie who wrote (5864)	2/3/2000 7:41:00 AM
From: Tommy Dorsey	of 9427

No Connie, it means that you go into a heightened state of readiness. Know all the chart patterns of the stocks you own and if some sort of defensive action needs to be taken then do so. Do nothing radical, but take care of business if something begins to go against you, break trend lines, RS goes to negative etc. The bullish Percents are signalling that it is now Wealth Preservation that is important not Wealth Accumulation. It does not mean stocks cannot go up,as they can it means it is likely to be narrower and narrower. Last year on an UNWEGHTED basis the S&P 500 was only up 3%. Because of the capitalization weighting it masks what is really going on. Greenspan with the 1-4 point move yesterday was a total cop-out. The Purchasing Managers said 17 out of 20 industries are now seeing higher prices. It starts with oil, then gas, then plastics etc. Just keep your eyes wide open. Tom

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