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

To: kaz who wrote (5152)1/24/2000 3:19:00 PM
From: Ms. X  Read Replies (1) | Respond to of 9427
 
OK, your question is why INPR should have been given more room for a
stop than ECCS or PANL, right?
Here are the charts with comments.

INPR:

20 X --------+-------------------------
19.5 X O |
19.0 X O ------| ------------------------
18.5 X O |
18.0 X O ------| ------------------------
17.5 X O |
17.0 X O ------| ------------------------
16.5 X O |
16.0 | X O ------| --------
15.5 X O X | X
15.0 X --X O X O --| X O ----
14.5 X O X O X O | X O X <--At the time of purchase (I'm guessing)
14.0 X O X O X O | X O X you bought around here. This is a good
13.5 X O O X O | X O X entry point. Couple things to consider.
13.0 X ----O X O X | X O <--This O is a higher bottom.
12.5 X O X O X O 1
12.0 X ----O X O X O X ----------------------
11.5 X O O X O X
11.0 X --------O X O <--This O is near term support.
10.5 C O X | * <--The Bullish Support line is very
10.0 X --------O X | --------* close.
9.5 X O X | * All of this is "near term" support.
9.0 X --------O --| ----* and helps give the stock a base.
to work from.

20 X --------+-------------------------
19.5 X O |
19.0 X O ------| ------------------------
18.5 X O |
18.0 X O ------| ------------------------
17.5 X O |
17.0 X O ------| ------------------------
16.5 X O | X
16.0 | X O ------| --------X O ------------
15.5 X O X | X X O
15.0 X --X O X O --| X O ----X O ------------
14.5 X O X O X O | X O X X
14.0 X O X O X O | X O X O X --------------
13.5 X O O X O | X O X O X
13.0 X ----O X O X | X O --O X --------------
12.5 X O X O X O 1 O <--This sell signal is above all the
12.0 X ----O X O X O X described above. The term "sell"
11.5 X O O X O X isn't always literal.
11.0 X --------O X O Also, with the RS in X's this stock
10.5 C O X | * had alot going for it and not much
10.0 X --------O X | --------* room to fall.
9.5 X O X | *
9.0 X --------O --| ----* ------------------

You have to put all the pieces together. Next is ECCS which is VERY
different as it had no near term support. There was no way of knowing
if the sell signal would bring it down to the last support, which
could have costed you major dollars if it did, or if it reversed up.
The risk reward for ECCS was far greater than that of INPR.

ECCS:

22 X
21 X O
20 X O X
19.5 X O X O I don't know where you bought this stock
19.0 X O X O but this bottom break would scare the
18.5 X O X O bajeebas out of me. Where is the next area
18.0 X O X O of support? It isn't 3 boxes down like INPR
17.5 X O O it is 13 boxes down. I have no way of
17.0 X ----O knowing when this pullback may stop.
16.5 X O
16.0 X ----O
15.5 X O
15.0 X
14.5 X
14.0 X
13.5 X
13.0 X ----------1
12.5 X O X X
12.0 X O X --X O X
11.5 X O X O X O X
11.0 X O X O X O |
10.5 X O X O |
10.0 X O X ------| ------------* ------------

22 X
21 X O
20 X O X ----------------------
19.5 X O X O
19.0 X O X O
18.5 X O X O X
18.0 X O X O X O
17.5 X O O X O
17.0 X ----O X O
16.5 X O X O
16.0 X ----O X O
15.5 X O O
15.0 X --------O <--This double bottom break is the same
14.5 X thing. The closest support is still 8
14.0 X boxes down.
13.5 X
13.0 X ----------1 --------------------------
12.5 X O X X
12.0 X O X --X O X ----------------------
11.5 X O X O X O X
11.0 X O X O X O <--support
10.5 X O X O <--support
10.0 X O X ------| ------------* ------------

22 X
21 X O
20 X O X ----------------------
19.5 X O X O
19.0 X O X O ----X <--Now, after this buy signal I know 18.5 X O X O X X O ECCS has started to create a base.
18.0 X O X O X O X O ------------
17.5 X O O X O X O <--I'd watch this reversal down and
17.0 X ----O X O X if it reverses uip with a lower
16.5 X O X O X bottom I'd feel much better about
16.0 X ----O X O X entering. 15.5 X O O X
15.0 X --------O X --------------
14.5 X O
14.0 X --------------------------
13.5 X
13.0 X ----------1 --------------------------
12.5 X O X X
12.0 X O X --X O X ----------------------
11.5 X O X O X O X
11.0 X O X O X O | --------------------------
10.5 X O X O |
10.0 X O X ------| ------------* ------------

Huge difference between the stocks. One had lots of near term support
and a place to pull back comfortably and the other did not.

PANL looked exaclty like ECCS.

21 X
20 X O --------------------------
19.5 1 O
19.0 X O --------------------------
18.5 X O
18.0 X O --------------------------
17.5 X O X X
17.0 X O X O X O ------------------
16.5 X O X O X O All this built up here is near term support.
16.0 X O X O --O
15.5 X O O
15.0 X --------O <--This break told us that PANL could not
14.5 X hold that support.
14.0 X --------
13.5 X
13.0 X --------
12. X X
12.0 X O ----X --------
11.5 X O X
11.0 X O ----X --------
10.5 X O X X
10.0 X O X O X ----------------------------
9.5 X O X O X
9.0 X O X O X ----------------------------
8.5 X O X O X * <--Next support is way down here, 12
8.0 X O --O | ------------* boxes away. Horrible risk reward.

21 X
20 X O --------------------------
19.5 1 O
19.0 X O --------------------------
18.5 X O
18.0 X O --------------------------
17.5 X O X X
17.0 X O X O X O ------------------
16.5 X O X O X O
16.0 X O X O --O ------------------
15.5 X O O
15.0 X --------O ------------------
14.5 X O X
14.0 X --------O X
13.5 X O X
13.0 X --------O X
12. X X O X <--Until it reversed up here you had no
12.0 X O ----X --------O X idea how far this could fall.
11.5 X O X O X
11.0 X O ----X --------O
10.5 X O X X
10.0 X O X O X ----------------------------
9.5 X O X O X
9.0 X O X O X ----------------------------
8.5 X O X O X *
8.0 X O --O | ------------* --------------

21 X
20 X O --------------------------
19.5 1 O
19.0 X O --------------------------
18.5 X O
18.0 X O --------------------------
17.5 X O X X
17.0 X O X O X O ------------------
16.5 X O X O X O
16.0 X O X O --O ------------------
15.5 X O O
15.0 X --------O ------------------
14.5 X O X
14.0 X --------O X O X ------------
13.5 X O X O X
13.0 X --------O X O X ------------
12. X X O X O <--Higher bottom and another base is
12.0 X O ----X --------O X being created. New support is closer
11.5 X O X O X than above.
11.0 X O ----X --------O <--support
10.5 X O X X
10.0 X O X O X ----------------------------
9.5 X O X O X
9.0 X O X O X ----------------------------
8.5 X O X O X * <--support
8.0 X O --O <--support.


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