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Non-Tech : Dorsey Wright & Associates. Point and Figure -- Ignore unavailable to you. Want to Upgrade?

To: Tommy Dorsey who wrote (722)	10/6/1999 9:27:00 AM
From: John Pitera	Respond to of 9427

On September 22, NY Fed Pres William McDonough, a permanent voting member of the FOMC, said, "It is almost impossible to find an American business leader, and impossible to find an intelligent one, who thinks that his or her firm has any pricing power. McDonough went on to say that with "the increase in productivity over the last four years, it would appear you can grow the economy at a 4 percent rate [and] have that growth sustainable." Briefing.com expects no change in rates and a shift to a tightening bias.

To: Tommy Dorsey who wrote (722)	10/6/1999 11:23:00 AM
From: papi riqui	Read Replies (2) \| Respond to of 9427

Tom, As you have noted in the past, reading a PnF chart is sometimes as much an art as it is a science. Take the case of OAKT, for example. It appears to have substantially satisfied the elements of a shakeout pattern with yesterday's reversal into Xs following a DT/DB sell signal. The DWA chart does not indicate, however, that a shakeout has occurred. I would appreciate your "artistic" analysis of why the shakeout pattern does not apply here. Thanks, pr