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: Rich1 who wrote (7272)	4/15/2000 10:40:00 AM
From: Doppler	Read Replies (1) of 9427

One thing I'll be watching is the volume. I said last week wasn't a capitulation day because of two things. 1-lack of true capitulation volume, and 2-lack of true fear (ie still buy the dip talk, and put/call ratio). I don't think the NAZ will truly capitulate until we get a blow off 3 billion plus share day. I would also like to see the put/call ratios. As of yesterday morning, they were still not bearish enough for a sustained turn around. I put in some more GTC orders on QCOM, JDSU etc, right near the MAJOR support levels, but your point about the Tom's book brings something home. Even at these levels, I should wait for the reversals on their charts to bottom fish.

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