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Strategies & Market Trends : Point and Figure Charting
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To: Mr. BSL who wrote (8728)10/15/1998 11:29:00 PM
From: Dennis J.  Read Replies (2) of 34816
 
Duke. Thanks for the kind comments.

What does column 3 represent?

While your concerns are/have-recently-been justified, I think the market has made quite a statement this week. With interest rates on the move, the market seems to be saying a liquidity crisis can be averted -- a fear which probably caused selling at any price -- a "just get me out" attitude.

I see the pendulum now beginning to move in the opposite direction. We won't know just how bullish it will get for some time. However, that is the nature of moves for the NYSE/OPTI BP indices -- tracking a full swing in market psychology.

If you believe some major attitude change is occurring, seems like you have a couple of options. 1)Wait for the p&f indicators to turn, missing some of the move, but increasing your likelihood of winning trades, or 2) Buying the best and safest stocks now, expecting confirmation later.

You probably already have a good shopping list. If not, the 30-40 largest US stocks ought to be candidates -- and they are moving already.

For some ideas for more responsive indicators, consider these:

1) McClellan Oscillator: decisionpoint.com

2) Candlestick formations:
litwick.com
(You will need to register for a trial.)

3) Consider an AIQ trial. Preston, Les Horowitz and myself use it. Many easy-to-use timing indicators.

Thanks again.

Dennis
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