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

To: Tommy Dorsey who wrote (5646)	1/29/2000 12:52:00 PM
From: Dave Shares	Read Replies (2) \| Respond to of 9427

Dear Tom, As the market declined this week, I had a sense of true calm and purpose, given to me by my knowledge of P&F charting. Admittedly, I did jump the gun slightly the week before this one by hedging a long term portfolio with USPIX, the Ultra OTC Short Fund. With the advisor bullish sentiment so high, I couldn't help but think that the risk/reward of a hedge would be reasonable. To me, point and figure charting is not just about reading charts, it is about understanding concepts. Two concepts which are emphasized, which to me are hallmarks of any investment and trading strategies, are those of measuring risk/reward and looking for the right place to enter the position (i.e. buying pullbacks, shorting on a bounce). Every P&F chart offers an opportunity to measure the risk and reward of a position, and every chart offers a plan for entry of the position. We make plans for our lives, and they are not always achieved, and similarly, we make plans for entering a trade, and sometimes the pullback eludes us, so we move on to the next opportunity. Now that I have learned these concepts, it is up to me to have the discipline to use them. Now that I have learned to understand the indicators, it is up to me to have the discipline to follow them. This week, my trading excelled, as I followed some basic rules for myself. In a weak looking market, I focused on stocks with RS in Os in overbought sectors. I called them "pretenders". Using the Search Feature, I ran a simple scan to find these stocks, then I started looking at charts. You keep emphasizing that Point and Figure Charting is art and science. There is art to reading the charts, this is something that takes much time to learn, man I am trying, trying. But in this example for the week, I saw how if a stock was below resistance, on a sell signal, near a top, and with lower tops being made, offered good risk vs. reward. I made several of these trades, and they all worked out and worked out well. On the long side, I am learning to look for the big bases and be patient, look for the forming triangles (Gee I'd love to have that feature I've been asking about). I'm learning that the art is in the read of the chart, and sometimes, one has to look at a lot of charts to find the one that looks like it will work. Well anyway, this is a great place to be, and maybe, just maybe, I'm starting to get it. I've made a lot of mistakes, and I have this sense that we may never see the explosive opportunities of this run again, but I know, we can't be stuck anticipating. In knowledge there is power, thanks to this thread, we can be enabled and enable others. Peace to you and thanks for the calm I am feeling, David

To: Tommy Dorsey who wrote (5646)	1/29/2000 9:54:00 PM
From: Gottfried	Read Replies (4) \| Respond to of 9427

Tom, from the Am Ex site... > Qualify for free stock trading and invest with confidence from a source you trust. When you maintain at least $25,000 in your brokerage account you can purchase stocks online for FREE for trades up to 3,000 shares. And if you maintain at least $100,000 in your brokerage account, you will receive unlimited FREE stock buys and sells for trades up to 3,000 shares.* All other stock trades are just $14.95 up to 3,000 shares. A customer service representative is just a phone call away to answer any of your investing questions at 1-800-297-7378. < br1.americanexpress.com So you don't have to be rich to get free trades. :) Gottfried