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Strategies & Market Trends : Ahh Canada - 2 out of 3 ain't bad -- Ignore unavailable to you. Want to Upgrade?

To: kirby49 who wrote (2648)	5/30/2001 2:10:36 AM
From: Davy Crockett	Respond to of 5144

Hi Bob, I just managed to catch your post just before I was going to go bed. I'm very tired & its late so I'll make this quick. <g> I remember playing NLC.to & seriously considered dumping my profits into RIM.to. Unfortunately, I thought RIM.to was overvalued. (On a fundamental basis... still is way overvalued & it sports a sky-high PE... but WTFDIK?) At night sometimes I dream about the RIM chart both on a long & short basis.... however when I wake up...it is still but a dream <ng> Anyway enough B.S. Interesting, I noticed that you r looking at a different time frame. On my original post to Shaw I was going to post the hourly chart, but decided to post the PnF chart which encompasses the period of time that you mentioned. One of the things that I like about PnF is that time (or for that matter volume), ceases to exist. PnF is strictly price oriented..., because it is price oriented (of course depending on the level of "box" reversal, PnF is a lagging & I think a trending indicator. I use it (not always) & pay the price later for not following the signals that PnF generates. (Bullish or Bearish). From the FWIW category..., I am not so sure that I would follow the weekly chart that you posted... If I followed the trend lines that you suggested I would of only made $40.00 CDN (including Wilder's ADX & DM1) I would have been too engrossed in the 15 min/ hourly/daily chart. Again FWIW, following the hourly chart has saved me a lot of bacon. For sure, I've been whipsawed out of positions only to see them go North. But most positions that I have followed have gone south. Whats really kind of neat on the chart that you posted is the lower highs & lower lows on the MACd...yet price kept declining & while price was declining, volume increased. ....hmmmm interesting! I was looking for some kind of divergence but I didn't find it. Maybe you or somebody else can let the thread know if u find it. Again in this case, I believe that using such a system would of "cut" you out of the majority of the move made by this security. ($200.00 CDN!!!!) All FWIW & hindsight is 20/20... p.s. I think the charts that have some history to them (such as the Gold charts that you have been posting, have much more validity going for them)... simply because as you have said...they have a past... IMHO RIM.to or ARBA or CMGI do not have a past. BGO, TVX, ECO, PDG, FN, ARZ.V, MCL all have some kind of history that can be clearly viewed in any time frame. ie: Monthly, weekly, daily, hourly, 30 min. 15 min, 5 min. I like the triple charting system that Elder & others espouse ie: if your a swing or longish term trader have the signals that you use confirmed by the monthly, week, daily charts. If your a daytrader or slightly longer term you might use the weekly, daily charts to determine your position & use the hourly chart to enter the position. Ditto for shorter term players ie: use the daily, hourly to determine the trend & utilize the 15 min or 5 min chart to determine an entry. Regards, Peter

To: kirby49 who wrote (2648)	5/30/2001 3:13:47 AM
From: Davy Crockett	Read Replies (1) \| Respond to of 5144

Hi Bob, Just rereading your post... Secondly, I've gotta keep reminding you young pups to get a life perspective. Well, at least when reading charts, don't forget they have past lives, not just today or last six months or year Excellent point. Thanks to you & the stuff that I have read... I always go back to the far LEFT edge in ALL time frames. ie Monthly, weekly, daily, hourly, 15 min etc... it only take a couple of seconds anyway using Quicken. In real time. & these days I am really trying to enforce my discipline on the Elder triple chart method. Again very good point. Now I just have to learn how to set targets for selling... Regards, Peter