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

To: Ms. X who wrote (157)	1/28/1998 3:24:00 PM
From: Allan Harris	Read Replies (1) \| Respond to of 34810

I've been reading Tom Dorsey's book and taking advantage of the 14 day free trial at his web site. I like the objective nature of the technique and how it translates well into a quasi-mechanical trading methodology. I especially like his analysis and application of risk/reward calculations. It seems very helpful in stacking the deck in your favor. At the free part of Dorsey-Wright web site there is something called "Afternoon Call" where they apparently provide special situation trading ideas for consideration. Last week they highlighted Galileo Technology at 33 5/8 with a stop at 29. On Monday, the stock hit a low of 30 3/4. Even at 31, your risk on this stock could have been as little as 2 points. Today, it is back up over 33. The P&F technique seems to go a long way at taking the emotion and subjectivity out of trading. Although I am still at the beginning of the learning curve on it, it is already making inroads on my daily routine as I already have my entire portfolio's charts' printed out in P&F format and filed for easy reference. My initial testing of the NYSE Bullish Percent, 10WEEK and Option Bullish Percent is indicating measurable intermediate timing utility. In any case, I appreciate the efforts to get Tom's input on this thread as well as at the live chat session last night. Now, if he would only make available his Morning Market Comment at the web site...... Allan, King of France