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

To: Tommy Dorsey who wrote (5260)	1/22/2000 2:10:00 PM
From: Atin	Read Replies (2) \| Respond to of 9427

Tommy, I feel like I am arguing with my teacher but I will try one more time and then let it go. I agree with you that the real value of P&F analysis is the underlying stock price movement and how it shows support and resistance. However, the P&F chartist has to decide on the granularity of the time interval at which to sample the stock price. You like to check your charts once a day (doesn't mean that you modify the chart, but you do check once a day to see if an update is necessary), while a trader on the floor checks his chart at every tick. I respect your opinion that checking once a day is a reasonable way to draw P&F charts. However, for someone like Patrick, who is daytrading futures, a tick by tick updated P&F chart is more appropriate. Peace, -Atin