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Non-Tech : Dorsey Wright & Associates. Point and Figure
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To: Mr. BSL who wrote (8497)6/27/2000 1:51:00 AM
From: PuddleGlum  Read Replies (1) of 9427
 
I think that a low pole reversing to O's doesn't necessarily negate the buy signal. Traders may wish to have a buy stop 3 boxes above the recent low, and then just scalp a few points, but I think the general idea of a low pole is that the stock got washed out and is now basing. I can show you lots of high poles in March that were good for major gains from the short side.

I'd probably exit a pole when the price returned to the place where the pole started (the top of a low pole, for example), but I think these things are like everything else in p&f, it's an art and what you do with the particular case in question is different from what another good trader or investor might do.

JMHAPUO,

pg
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