Ben:
Thanks for giving your input. Don't think that this is a thread dominated by ONE way of doing things. If there are other ways of doing P&F, I certainly have an open mind to learning them. I just want to be able to keep track of and understand any differences so that I can make an informed decision when buying/selling stocks.
P&F has me very interested because I believe it is the best method (that I know of so far) of determining what really drives stock prices, that is supply and demand.
I got Dorsey's book for Christmas and from a teaching standpoint, it leaves just a little to be desired. (For this little brain of mine) Overall, it is a great resource book. I just would like to see more examples, more examples, more examples. (get my point?)
My first question to this thread has still remained unanswered. That speaks more to my own inability to comprehend than it does to anyone's explanation already given to me. I still ask: If I am doing P&F by hand right now (software later maybe), and I pick a stock, say CPQ for example, and I want to start with the most recent close (Dec.24th,1998), how do I know whether to begin with a column of X's or a column of O's? This implies to me that I must backtrack a certain amount of time. OK then, how far back do I have to go to obtain enough information to create a valid P&F chart from Dec. 24th on? Is there a specific and repeatable(in all circumstances) P&F methodology for doing this when one is not using a P&F software program? The last answer I received said I could go back five days or so. I asked why five and not ten or twenty. Do you see my confusion?
TIA for any assistance on these questions. Remember, you are dealing with someone who is still drooling and cooing, I haven't even learned to crawl yet let alone thinking about getting on my feet. -g-
HiTech |
