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Strategies & Market Trends : Point and Figure Charting

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To: wizzards wine who wrote (15779)	3/16/1999 6:57:00 PM
From: wlheatmoon	of 34811

Preston and all other PnF gurus--- A question about PnF and then about long term investing in general. I want some INCY because I think it is a company in a sector that will be important in the near future. Now, the stock just broke a double bottom and is still going down. PnF rationale would be to wait until there is a buy signal. Investor sentiment is that this stock is on sale. If my plan is to buy this in 3 installments and to hold for 5 years, shouldn't I use the investor sentiment that it is cheap and buy now and buy more if it goes lower? PnF would say, whoa, nellie, sit on the hands, boy!!! If that were the case, then it would mean holding off for several points, then riding it up until it gives another sell-signal. So, in my 'mind', PnF seems more suited for 'short-term' as opposed to long-long-term trading. Thoughts? Thanks. mike

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