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Strategies & Market Trends : Systems, Strategies and Resources for Trading Futures -- Ignore unavailable to you. Want to Upgrade?

To: Jerry Olson who wrote (34283)	9/23/1999 6:07:00 PM
From: Patrick Slevin	Read Replies (1) \| Respond to of 44573

As I said, it's a good confirming indicator. Keep whatever hair you have left.....don't get ticked off. I just do not think it's an Early Warning System. On the other hand, on the way back to hit more golf balls I thought about it. What it was telling me, and I did not realize it at the time, was a basic T.A. Signal in Descending Triangles. Not only that, but it found a floor on the 1300 level and quite plainly showed a rapidly declining hypotenuse to the 1300 until the 1300 broke. Had I recalled that basic tenet of T.A. I would have realized just how hard that break would be once that Triple Bottom broke and hung on for a lot more of the ride. So, it does show certain things more clearly than can be "guessed" at using trendlines on a typical bar or candlestick chart. It is well that it is suited properly for individual issues....as I've said I know ex-CBOE MM's who still do reads off PnF from time to time. I believe I tried to find reference material on it in the early 90's but it was scarce. So I was interested recently just to see what it could do for me....as a result I believe it's a nice confirming indicator. I'm quite certain that, from my experience with others, that it's very good for Stock issues. What I am saying is, that if this method told you last night that the market was ready to crack then it's not fast twitch enough for me.....but that's the way you read it, and I imagine that you read it properly. I read it a different way....my own I guess...and believed it confirmed the market was cracking some time ago. I have no negative issue with the method.