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

To: Jerry Olson who wrote (5302)	1/23/2000 11:09:00 AM
From: Patrick Slevin	Read Replies (1) \| Respond to of 9427

Jerry, I'm not saying you caused this or caused that. If I had not seen your post I would have seen it eventually on DWA anyway. My point was only that what works for Position trading could kill you in the futures arena. Running off PnF seems to give a late signal for SnP. This is fine for stocks, you never get the top, never the bottom but look for the meat in the move inbetween. The BP would not get you into this stock or that merely by itself, nor would it get me into SnP by itself. I understand that. Once committing yourself to a bullish stance has different ramifications in S&P than it has in stocks. I could buy a hundred shares of XYZ.com here then 500 there and so on. I recall days where the SnP had to be continuing a column of X's, then dropped like a stone after opening higher. I mean serious drops, 30 points and more. Averaging down into something like that brings to mind Victor Neiderhoffer who one day managed perhaps 4 or 5 hundred million dollars and two market sessions later was penniless. Sure, the third day saw one of the biggest rallies in history. But it was too late for poor Vic.