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To: DanZ who wrote (27265)	12/12/2000 3:34:26 PM
From: chartseer	Respond to of 53068

PnF is more a measure of supply and demand than one of resistance. Looking at previous support areas one could conclude that they will now become resistance areas. The theory being that people who bought at a specific price shall we say 10, will now be sellers at 10 when they get even. then again what the heck do I know? chartseer

To: DanZ who wrote (27265)	12/13/2000 11:51:54 AM
From: Iceberg	Read Replies (2) \| Respond to of 53068

>At what point would the chart turn positive again? Or is there not a specific price where that would occur? Dan, IMHO, the specific point in question is 11 bucks a share...assuming a traditional Pnf chart. At 11, that "X" would rise [breakout]above the previous highest "X" at 10.5, and therefore, at 11, GUMM would technically be on a "Pnf buy signal". However, even at that, there would still be considerable overhead supply to be concerned about. That's my understanding about the Pnf chart, and if I'm wrong I'd appreciate someone correcting me. BTW, Pnf isn't a particularly easy concept to grasp, but IMO it's well worth the effort because, theoretically at least, Pnf reflects pure supply and demand without the time factor clouding the issue. FWIW. Have a good day. Ice