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

To: Jorj X Mckie who wrote (4733)	1/11/2000 10:29:00 PM
From: Tommy Dorsey	Read Replies (1) \| Respond to of 9427

I know it was close. Did someone mention it in the report. I have been tied up with things you and I had talked about. t

To: Jorj X Mckie who wrote (4733)	1/11/2000 11:44:00 PM
From: Ms. X	Read Replies (1) \| Respond to of 9427

But what is a 127 point move in the Nasdaq in this current market? Here is the Nasdaq chart. 4200-------------+-------------------4200- 4180 X 4180 4160 X O 4160 4140 X O 4140 4120 X O 4100-------------1 O ------------ 4080 X O 4060 X O X <--Nice reversal up but a lower top. 4040 X O X O 4020 X O X O 4000---------X --X O X O You can see a base building for this chart 3980 X O X O X O here in this range. Should the chart 3960 X O X O X O reverse up from here it will create a 3940 X O X O X O higher bottom and support level. 3920 X O \| O X O <--today's reversal down. 3900---------X --+-O X --------------3900- 3880 X \| O X 3880 3860 X \| O X 3860 3840 X \| O X 3840 3820 X \| O X 3820 3800---------X --+-O X --------------3800- 3780 X \| O X 3780 3760 X \| O X 3760 3740 X \| O X 3740 3720 X \| O <--Pullback almost to the last area of support/ 3700 --------X --+------resistance which is below at 3660. 3680 X \| This also creates a new support area at 3720. 3660 X X \| 3660 3640 X X O X \| 3640 3620 X O X O X \| 3620 3600 X O X O X --+-------------------3600- This is exactly what I mean when I say these swings allow for lower buy breakouts and higher support levels. It does us no good to go strait up because that doesn't give us guides or proper breathers for the market. Needs to consolidate at some time. If the market hadn't pulled back we would be really concerned about a larger pullback. Now, we can see support at 3720. We now have a buy signal possibility at 4080 instead of 4200. This is very good. Here is the Dow. 11650 \| X <--reversal up this week created a buy signal 11600 \| X <--buy signal. 11550 X X 11550 11500 X O X <--Dow moves here for a reversal down. 11450 X O X This would set up a higher support level 11400 X 1 X than down below at 10950, this would 11350 X X O X be a clear signal of demand coming in. 11300 X X O X O X It would also create another buy signal 11250 X O X O X O X possibility at 11700. 11200 X O X O X O X 11150 X O X O X O X 11100 X X O O \| O X 11100 11050 X O C \| O <--Triple bottom break but it reversed up to 11000-X O X ------\| O X give a buy signal negating the triple bottom. 10950 X O X \| O <--Pullback last week. 10900 X O \| This is a very bullish chart. With the BPOPTI reversing up into X's again at a low level we have absolute confirmation of demand coming into the market. I do look at these charts above along with the indicators to see if the whole market is in agreement and that is exactly what I see. Everyone has to accept the large swings in the market. Again, no one complained that the Nasdaq recorded the largest gain just a few days ago but when it gives back some of those games some think the rally was false, that the bottom is falling out. Why would that be? If you accept the large moves up with no question you must accept the large moves down unless they create negative action in the indicators. Today is a perfect example of a pullback completely misunderstood. The Nasdaq took a breather but the OPTI reversed up! Don't get caught again wondering when a pullback is going to happen only to miss it because when it did happen you mistakenly thought it was an "omen" of worse things to come. See it for what it is by confirming with the indicators. If the indicators turn negative so will we, until then - it is a pullback. Here is a list of buy signals and sell signals. You can see it is most convincingly on the buy and positive side. Double Tops New Signals Multiple Signals ACN 13 ACTL 25 ANTC 38 BRKT 20 ARBA 198 BSTE 17 BARZ 32 COGN 51 BXM 21 ELNK 48 CERS 29 ELON 29 CNDS 2-1/4 ERTH 5 EPIC 5-1/2 ETV 3-1/2 ETEK 138 HUMC 34 GS 85 IBM 120 HRB 48 IDXC 33 IDXX 17 INTV 26 INTC 88 LFUS 26 JDEC 33 LUX 18 LEH 75 MGCX 51 LRCX 116 MSM 14-1/2 MESA 5-1/2 NETP 60 MFNX 52 NICE 53 MIPS 54 NN 26 MSPG 30 NOVN 18-1/2 MTIC 37 OIL 23 MU 76 PHSY 53 OAT 68 PRM 17 PDE 15-1/2 RCNC 54 PGEX 18-1/2 RG 27 PGTV 104 SCHL 65 PMCS 166 SUPX 21 SIPX 21 TMX 118 SIVB 53 UVN 104 SRCM 20 VSH 32 SWM 15-1/2 WFT 40 UCP 4-1/2 WWWX 7-1/2 VIGN 194 ZIGO 23 VNWK 71 WAC 13-1/2 WINK 51 Triple Tops New Signals Multiple Signals CTII 2-1/2 IOM 5-1/2 IGT 21 MUEI 13 NOBL 15-1/2 PLA 27 SPLH 10 S4T PPP 22 WMS 14 SFAM 14-1/2 SIII 13 WWCA 69 Double Bottoms New Signals Multiple Signals AERL 45 AEOS 39 APNT 47 AOL 69 ARDT 29 APZ 15 BNE 10-1/2 ARC 77 CMSB 15 ATHM 38 FITB 64 AXTI 16-1/2 FOSL 21 BTY 194 IFMX 8-1/2 CMDX 89 ITRA 67 CNQR 27 OMPT 90 FISV 34 PROX 84 FON 61 SKYC 16-1/2 ICGE 150 STMP 37 IDC 49 TAN 46 IMAX 22 TBL 48 NXLK 72 TRK 25 ONE 29 VSTR 104 PHM 19 WLNK 17-1/2 REMC 19 SCOC 24 SFE 152 SRE 16-1/2 Triple Bottoms New Signals Multiple Signals CEN 19 AAPL 94 CYN 30 GTS 28 SCAI 38 4B STRM 32