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To: chartseer who wrote (27623)	12/30/2000 8:36:55 AM
From: chartseer	Respond to of 53068

Still dancing with the Bear but about to get mauled. Dancing with Bears to say the least is dangerous business. Very dangerous business. In fact some would say why do you do it. It is simple. I do it for the excitement. For it is only when I dance with the Bear do I feel that I am alive. Let me explain something. Using PnF charts is not a perfect art. It is a very imperfect art. Take PALM for instance as a representative chart of my indicators' charts. xocharts.com Palm is still in a column of Xs. Being it was in a column of Xs going into Friday, Friday's move to 32 was the entry for the day. The fact that PALM then sold off to under 28 will not come into play until Tuesday. Then only if PALM doesn't tick at 33 or higher or stay above 29, because according to PnF when a chart is in a column of Xs the priority entry is an X. Only if there aren't any Xs do you then see if there was a reversal of an O entry. So you see as far as my indicators are concerned, being everything I do is based solely on PnF charts, Friday was in fact an up day. The morning rally takes precedent over the afternoon sell off and accordingly my indicators are still in rally mode. Now for the bad news. Not only are my indicators still in rally mode but my indicators are closing in very very quickly into overbought territory. Everything now depends on Tuesday. If Tuesday opens higher the columns of Xs of my indicators could continue but my indicators would then enter overbought territory. If we sell off the columns of Xs end and the columns of Os of my indicators are then posted. The posting of Os at or near over bought territory signifies the end of the rally. Therefore no matter how you look at it, the rally is over, or the rally is nearly over. I am not sure if "nearly" can last as long as 4 days. Actually I am not really sure how long a "NEARLY" can last. With PnF some days you just do not get any entries at all. Have I managed to confuse everyone? I really don't mean to. As the late Jimmy Durante used to say "What a predicament!" then again what the heck do I know? chartseer