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

To: Ditchdigger who wrote (25181)	2/5/2001 4:24:58 PM
From: Jorj X Mckie	Read Replies (1) \| Respond to of 34822

DD, It is almost, but not quite arbitrary.<g> A buddy of mine here on SI pointed out the 50% retrace on strong moves up and I also apply it to my P&F charts. It is also a fib number, which I put some credence in. And then there is just observation. Over the past few years, I have observed that moves greater than 50% against the previous column portend a continuation in that direction. I never bothered to track this so that I could justify it, but it has been reliable enough for me to take note of it....it does look like PRCS has bounced a little off of the BSL though.