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

To: arno who wrote (5295)	1/23/2000 10:12:00 AM
From: Atin	Read Replies (1) \| Respond to of 9427

However, if time was a part of the PnF charts computation, there would "have" to be a "mark" of some sort whether the price moved or not. Since there does not "have" to be a mark of some sort made on the PnF chart when the price changes, does this mean that price is not a part of PnF charts computation either? ;-) Seriously though, I think we all know what is being talked about -- the quibble is with the attitude that "time is irrelevant" for PnF charts. Time is relevant because that determines your sample rate, and different people make different choices about what time frame to sample at. For most people trading stocks, a day at a time is just fine, for people trading S&P futures, a shorter time frame might be better. So time does become relevant depending on what you are trading and the statement "time is irrelevant" is incorrect. And honestly, if DWA were to take off the year and month markings from the charts, most of us would be very much at sea when looking at a chart and trying to figure out whether the breakout happened today or a year ago and figuring out volatility etc from just looking at the chart with no knowledge of time related to the chart. Peace, -Atin

To: arno who wrote (5295)	1/23/2000 10:21:00 AM
From: Patrick Slevin	Read Replies (2) \| Respond to of 9427

No, updating isn't the point. If you have a one minute chart it won't update either if a new X is not presented. If DELL trades at 43 to 43.875 for an hour all that chart is going to show is a single column. In the same fashion that a day chart does not change, a one minute chart does not change. A Tick chart would be a pure "time-less" version of PnF. Because you seem to be rather angry I won't go further into it. In a moment I'll address your remark about my opinion on what Mr. Dorsey thinks about daytraders by attaching a link here to an earlier post on the subject. Message 12651104