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

To: Atin who wrote (5263)	1/22/2000 2:49:00 PM
From: Dana Johnson	Respond to of 9427

I agree with you on this. If the price is sampled at a higher rate, higher frequencies can be observed. If the price range is evaluated every 5 minutes to determine the chart rather than daily, it is plausible that a high volatility stock could print many columns in the course of a day. In fact, it may be an interesting alternative to increasing box sizes for the 'nut stocks to set the sample rate up. It should have a similar companding effect as box size change if the price doesn't just shoot straight up or down.

To: Atin who wrote (5263)	1/25/2000 9:01:00 PM
From: The Phoenix	Read Replies (1) \| Respond to of 9427

At the risk of attempting to discuss a subject I know little about I think if you want to make a case for time being a factor you have to go back to the origins of P&F and see how it was applied and measured. P&F is great and respected because it generates a pretty predicatable (on average) result...but based on charting movements in stock price - if appropriate at the end of the day. If think attempting to play intraday volatility against P&F and calling it P&F does it an injustice. Is there any evidence that if you follow intraday swings that the return from your investment will be as good as what is currently experienced in P&F. Once you consider intraday volatility and cost of a trade (as a stock put's up 3 X's then sells off during the day for example) I have to believe that playing intraday movement is a risky endeavour - especially in this market. Still, I agree there are some cases when it might make sense to buy or sell intraday but this is the exception not the rule...and even so would be based upon price movement - not time. NOW THAT ALL SAID. regardless, you can measure every 5 minute...or every second...at the end of the day your charting price movements - not time. Time doesn't make a difference... the price movements are independent of time... and you trade on price movements - not time. You can choose to short term trade but it again will be based on price movements and the X's and O's created - regardless of time. OG