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Strategies & Market Trends : Mu Gamma Lambda -- Ignore unavailable to you. Want to Upgrade?

To: Rich1 who wrote (260)	6/11/2001 11:49:13 AM
From: Don Pueblo	Respond to of 10077

Interesting. You know, the trend line retracement things that Tom DeMark discovered and outlines in his book are quite fascinating. I've noticed that they often very closely align with support and resistance on P&F charts when the "ordinary" trend line people don't see any support and resistance. Regular chart readers would call support on the COMP at either 2140 or 2077. Neither are accurate. The move below 2200 was an easy call in hindsight, but few people would be able to recognize the pattern that signalled the move a month ago. Which is fine with me. <G> That's why I love those guys. I sell long positions into their rallies and buy on violations of their support levels. The great thing about P&F (in one sense) is that few people bother to understand it, and it works really well. Too bad for them.