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Politics : Formerly About Applied Materials

AMAT 322.62

+6.1%

3:59 PM EST

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To: Kirk © who wrote (45029)	4/4/2001 12:11:12 PM
From: Gottfried	Read Replies (2) of 70976

Kirk, [edited] the NYSEbp has in the past turned up [called bull alert] when the news was still pessimistic. I like it because it addresses market breadth. You can have the Dow reach new heights, but the NYSEbp turn down - because only a few Dow stocks reach new heights. PnF can really whipsaw you, as can other TA methods. The serious PnF practitioners look at additional signs like 'is the stock below or above its bullish support line?' [the blue + signs in the chart you linked]. If not, stay away for safety. Also, the RS should be in Xs [going up]. For A it is not. stockcharts.com I learned most of PnF from Tom Dorsey and his PnF book and most of it is written from the point of view of a risk averse trader. It never gets you in at the bottom and those traders take profits from the middle. Now, if I only could do that consistently for myself.:) edit: I believe the Hays interview stated he looks for an at least 1% high volume UP day in the SP500 after the Trin has given the 1.5 signal. We may get the SP500 confirmation today. Gottfried

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