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Non-Tech : Dorsey Wright & Associates. Point and Figure
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To: quote 007 who wrote (8644)7/10/2000 10:17:12 AM
From: Tommy Dorsey  Read Replies (2) of 9427
 
I think you will find this a problem with any method today. IT's not generic to p&f. Volatility is 50% higher so far this year than in 1998 and 1999. In most cases the chart warns early but it is a fact of life today that big moves will happen with stocks like CA. It's like life's way of shifting us back to the center of the Bell Curve. We got way out on the tails of the curve with the market carrying eveyone up as if in a whirlwind. Eventually everything shifts back to normal. There will be a time again when you will wonder if putting money in your backyard is the right thing to do and that is just where it gets easy once again. You see the charts are only a piece of the thought process. The P&F method is like an operating system your computer has on it like Windows 98, Va Linux, Macintosh etc. It's a set of instructions that tells you how to operate. IT doesn't mean the software you have the operating system reading will make you rich. There are many more parts of the puzzle that must be added to the system. Too many people look at a chart and think that's the end of the decision. This is why I think the "From the Analyst" written by analysts who have been in the business many years is so important to go along with the charts. When I weight lift I use a basic operating system to gain strength but what allowed me to attain a world record was the mental part I added to the basic strength operating system. They go hand in hand. Look at some of the work by Van Tharp. I spoke with him in Malaysia at the first Technical Analysis Conference in Asia. He is very bright and has much to say about the thought process of being successful. He is also the one who did the research on the position sizing I just discussed. "Trade Your Way to Financial Freedom". He also holds live classes in North Carolina. It would by dynamite to have him in our institute. Tom
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