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Strategies & Market Trends : Trade/Invest with Options Jerry a Point & Figure Chartist
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To: Gersh Avery who wrote (3046)8/6/2001 5:38:32 PM
From: Dan Duchardt  Read Replies (1) of 5893
 
Gersh,

A tale of two forks again...

Nice chart Gersh. I assume "again" refers to a similar looking chart where the lower red tine was based at the 7/11/01 low, and a couple of lows before that at 6/26 and 6/15, each of which has resulted in a broken lower tine during this two-month downtrend. The notes on the chart suggest you are more inclined to think this latest red tine will hold than fail, though clearly you have a plan for if it does fail. The sharp turn away from the black tine, clearly breaking below the recent several-day uptrend line, has me thinking the red is more likely to fail, but those differences of opinion are what makes the world go round.

I'm hardly an expert on forks and was wondering about the selection of the base for the handle of the black fork. Clearly there are higher highs further back in time that could have been used for handles. One could have been drawn from the high on 1/31, but that would have been broken by now. So I am wondering how you selected the one you used. Is it because the higher high fork has been broken, or is there a criteria for selecting the handle points that led you to the closer 3/9 high?

Thanks

Dan
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