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Strategies & Market Trends : Point and Figure Charting
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To: Chip Anderson who wrote (25395)7/3/2001 9:03:10 AM
From: Ben Antanaitis  Read Replies (1) of 34808
 
Here are some thoughts:

First:Right now, we come up with a BPI number that is around 35 stockcharts.com Looks like your chart is at 42 to me.

Second: Not being a DWA or Chartcraft 'insider' I cannot tell you which issues they use. But hey, it's how they get folks to sign up for 'pay-per-view' services. You tell everyone you have the 'magic number' and then not disclose what is actually in your 'trade secret' shell game value.

But back to the point, the 'classic' NYSEBP is defined as being calculated only 'once-per-week' based on the Wednesday evening closing prices per Cohen in his classic work on point and figure charting. I suggest you try creating that chart and see what you get. The chart will be significantly different from one calculated based on daily prices. The 'classic' NYSEBP chart will respond more slowly to the 'current' market condition because daily volatility is filtered out and only weekly change is accounted for.

Ben A.
ez-pnf.com
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