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Strategies & Market Trends : Z Best Place to Talk Stocks -- Ignore unavailable to you. Want to Upgrade?

To: chartseer who wrote (20352)	7/27/1999 1:18:00 AM
From: Smooth Drive	Read Replies (1) \| Respond to of 53068

Hey Seer, How's my main man? Now, I don't want to get in the middle of a heated discussion about P&F<g>. But -- if one were to go to my help page at the MDA site homestead.com you'll notice a couple of references to two dudes named DeVillers and Wheelan. Their system of P&F charting is 180 degrees from Cohen's EOD three box reversal P&F charting. In fact, their one box reversal P&F system (but always at least two boxes in a column) would and does lend itself to daytrading. Ken Towers of USTSecurities, and a regular guest on CNBC, practices this older type of P&F charting. I have a tape of his wherein he takes some real jabs at EOD P&F charting as being incomplete and only telling a bit of the story. The two camps: DeVilliers versus Cohen, are like republicanes/democtates; sailboaters/powerboaters; sailplanes/powerplanes, etc. etc. In my discussions with the two camps, they think the other is missing the boat. I've just ordered the Wycoff book from TAOS&C and am going to begin a study of his system (he uses both bar charts, volume and Devilliers type of P&F charts). I wonder which camp I'll end up in? Take care, Eric PS - Seer and I maintain some P&F charts (3 box reversal type) at the QQQ thread. Ole Seer's one damn smart fellow. I always listen when he speaks.

To: chartseer who wrote (20352)	7/27/1999 8:21:00 AM
From: DanZ	Read Replies (3) \| Respond to of 53068

PLXT. This is a good one to keep on one's watch list. The stock broke above what had been resistance on the weekly chart between 20 and 20 1/2 on June 10 and ran all the way to a high of 50 on June 30. The stock has retraced back to 22 3/4 with yesterday's low at 22. Support for the stock should come in as it approaches the previous breakout point near 20. This is the inversion of what Chartseer noted on ECLP (previous support becomes resistance). I will be away from the computer this week and unable to post so I'd like to place a limit order to buy 2000 shares of PLXT at 20 3/4 with a stop at 18 3/4. Target if filled is between 29 and 30. Chartseer: If you have time, can you see how PLXT looks on the P&F chart? Would the P&F chart wait for a reversal before entering a long position? Thanks. On the P&F discussion: More than one strategy can work. Some prefer day trading; some prefer position trading; some prefer fundamentals; some prefer technical analysis; some prefer P&F charts; some prefer bollinger bands and moving averages <g>. The most important thing is to develop A strategy that works for you. If you don't have a plan, the market will eat you up. It makes sense to be open-minded to new ideas but what's good for one person might not be good for another. It doesn't mean that the suggestion is a bad idea; it's just contrary to one's strategy and would understandably make them uncomfortable. Nemer: My thoughts are with you and your family. Take care, pal.