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

To: Ms. X who wrote (5235)	1/21/2000 8:54:00 PM
From: Doppler	Read Replies (1) \| Respond to of 9427

Ms. X- Thanks for the reply. I don't have Tommy's book yet but I just read in another book that volume is important to PnF and is used in measuring PO's. That's why we pick the line with the most # of boxes filled in, because it has the heaviest volume. I agree time doesn't really matter much, and that price is paramount in charting, but I have also seen from experience (not in PnF, but in chart reading) that volume is important. I bet if you go back and look at double tops and other breakouts in various charts in the past that you would find that the ones that fail are on lighter up volume, except in the case of a HUGE spike in volume where you get a blowoff capitulation ( I think PnF calls this phenomenon a Pole.) Anyway, everyone has been great so far and I look forward to learning new ways of looking at things as I combine PnF with the things that I have found to work over the years. Thanks, Jeff

To: Ms. X who wrote (5235)	1/21/2000 11:05:00 PM
From: Patrick Slevin	Read Replies (2) \| Respond to of 9427

<This is why time isn't a factor either.> Incredibly interesting. Because I know people who traded on the floor before Tom D. was in the business, and they say Time isn't a factor either. So then, why is PnF delineated in days? Aren't days a factor of Time? Not only that, but these people point to ChartCraft as their source. They say the concept of PnF in terms of Time does not exist. So you just said it does not exist, yes? Then why does DWA allocate PnF in terms of days? This is a serious question for me. A well considered answer would be nice. One thing that always bothered me is the fact that people don't trade PnF on the Floor while looking at their watch nor at a calendar. If you cannot answer this question don't worry about it, as I've been struggling with it for several years. In simple terms, you say PnF is not Time Delineated. Yet DWA says it is delineated in Days...Days are Time oriented...... If DWA is charting stocks in terms of days then that is Time. Classical PnF is not restricted by Time. So what is your view? I won't argue it one way or the other, I would just like to know what the official position is. Sorry to get so pedantic about this, but I've been looking at PnF since perhaps 1994. I would like to get this Time Element straight.