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Non-Tech : Dorsey Wright & Associates. Point and Figure
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To: Al Serrao who wrote (7101)4/5/2000 12:10:00 PM
From: Rich1  Read Replies (1) of 9427
 
The Broker's report of Dorsey Wright does a couple articles every day.the report is between 20 and 30 pages long. They did an article on Friday March 31, Titled Some thoughts On The OTC.
The first paragraph asked "how can the OTC Bullish Percent rise but my stocks and the NASDAQ Composite be moving lower"?
The article went onto state that the OTC Bullish Percentage is an equal weighted index. Whereas in the NDX the top ten stocks account for 45% of the movement in the index. Also the new buys were down against the new sells. It's all in the Broker site. They said stocks were going to pull back and it was important whether they gave buy or sell signals. And even though stocks can give multiple sell signals it would not affect the BPOTC. That's why the other indicators were important.
The March 16 report which I didn't listen to said when the indicators suggest high risk it is important to manage expectations or hedge positions.
The bottom line is many of the stocks on the OTC gave multiple signals or their RS was in O's as well as Percent of OTC STOCKS above their Bullish support levels was in O's so while the NYSE stocks were reversing up the OTC or NAZ stocks were reversing down.
Dorsey wright timing was on the money, just as Tommy calling the bottom the NYSE on February 28 was on the money.
On 3/31 even though the BPOTC was in X's most of the other technical indicators turned to O's.
I guess that's why the Broker's site is $425 per month.
IT'S been pretty easy to make money over the last couple of months I went to the added expense for the broker's site because I want to keep what I made.
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