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Strategies & Market Trends : Trading the SPOOs with Patrick Slevin! -- Ignore unavailable to you. Want to Upgrade?

To: Jorj X Mckie who wrote (3248)	1/26/2000 2:20:00 AM
From: Patrick Slevin	Read Replies (1) \| Respond to of 7434

OJ was telling us you were wheeling and dealing earlier. Nice going. Certainly I agree with your point, I alluded to that when saying that the situation dictates the choice of how to make the decision. I don't recall if it was in the post to you or a post a brief time earlier. The very reason why certain stocks were selected or discarded (by me) recently was partly decided on as the result of studying long term charts, long term PnF Charts. My physical entries were based primarily on how I would enter if I was a thief in the night. Once I decided I wanted a stock then I was going to buy it as low as I could. Suppose Atin wanted YHOO but waited to buy on the close instead of looking to buy at 324 or even 334. That requires some skill, certainly the extra ten or twenty dollars a share is well worth it. It's not going to work for everyone though. You knew how to buy it off a bar chart because you are perhaps comfortable getting a fast read. Catching a similarly fast read off a PnF chart when you are accustomed to taking time with it would require a more nimble state of mind. Now I know that you are adept at reading the pattern so it may not be a difficult adjustment. The next person may not understand patterns as well and probably would lock up. I don't understand the reads yet. I use my own stuff to get me in or out then I look at the PnF for confirmation. It's about 5 to 10 seconds for me to look at everything, make a decision, then often it's "now what exactly is dis all about wit' dese X's and O's?????". But that's just a question of time. You know the patterns better than I. Eventually my response time will improve. Those X's and O's don't hold still for you like they do at 9 o'clock at night though, brother. <truly wasn't aware that intraday data was available> I presume you mean not available. No, and primarily for the reason you grasped. Where it was available, it certainly wasn't real Time. Strike that; it was available if you were one of the rare breed that could read a ticker. Tape readers, from what I recall from conversations in the misty past, could virtually do Point and Figure in their heads. Other than that I would say no. <see the JDSU chart to see if it would have had me enter at the same point> Even if they did today they might not tomorrow. The edge you have is at least twofold. The Point & Figure read would be quick for you because of your experience and the bar chart methodology could be confirmed by the intraday P&F read (or vice versa).