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Strategies & Market Trends : The Art of Investing

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To: Sun Tzu who wrote (615)	3/25/1999 10:52:00 PM
From: Gottfried	of 10601

ST, the PnF people look at the bullish percent of the stocks on the NYSE first. At the moment that number is near 40% and needs to reverse [i.e. start going up by at least 3%]. Reversals of less than 3% are ignored. So, bpnyse must reverse first. The PnF thread will hail that event like the second coming. You'll hear about it all over SI. :) Then pick a sector that is nice and low in bp - preferably under 30 - but is moving up and pick a good stock in it with a PnF buy signal and a positive PnF RS. The PnF thread has excellent talent, but is at times OT, so you have to wade through a lot of posts. I may try to find some of the more profound ones. Tom Dorsey, author of the most widely used PnF text, posts there under 'james ball'. He also appears on CNBC regularly. Ironically, he also advocates here to turn the distraction off.<g> Gottfried You will appreciate that PnF adherents pay little attention to the DOW. The DOW can hit 10k, but if the bpnyse is still low as now and has not reversed up, they remain bearish.

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