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Strategies & Market Trends : Point and Figure Charting -- Ignore unavailable to you. Want to Upgrade?

To: Smooth Drive who wrote (24991)	9/10/2000 9:22:05 PM
From: Atin	Read Replies (1) \| Respond to of 34811

Hi Eric, I have read about Ken Tower but whatever I saw didn't really inspire me much into trying the moving averages myself. Lately I'm of the "simplify, simplify, simplify" mentality and unless I see something that totally jumps out at me, I am tend to ignore it. Unless I find that the moving averages on the PnF charts are much better than the moving averages on the candlestick charts, I think they'll just clutter the PnF charts . . . I play the guitar pure for myself, been doing it since I was 8 years old, but never played in a band. I sing too, and I mostly use the guitar to accompany my singing (mostly 60s-70s rock) and I do it to keep myself amused and my dog entertained. <g> -Atin

To: Smooth Drive who wrote (24991)	9/10/2000 11:28:41 PM
From: Bwe	Read Replies (2) \| Respond to of 34811

Hi Eric, It's great to be writing to you once again. When you mentioned Ken Tower, I thought of something I read this week from Todd Harrison, head trader and columnist for Cramer's RealMoney.com and Hedge Fund. He writes the following in an article about Nortel's recent price weakness: "That's not why I'm writing this. When looking for a trading opportunity, you look for legs under the table. Fundamental legs. Technical legs. Perhaps a short-base leg. The more legs, the more stable the table. While perusing my charts this morning, I noticed something pretty cool. Nortel is in the process of completing a "shakeout formation." Without getting into the technical jargon, I will say that this occurs when a stock fails at a previous top, falls to break a previous bottom (the "shakeout") and reverses up three points (and, hopefully, completes the breakout about the previous tops). Nortel confirms this formation at 78, meaning, if it ticks there, the process is in motion." xocharts.com Sounds like a p&f devotee to me. Isn't Atin's site great BTW. What a service he's doing for us p&fer's. Best to you. Bruce