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

To: Ms. X who wrote (269)	2/1/1998 11:21:00 PM
From: Gottfried	Read Replies (3) \| Respond to of 34811

P&F, I have Dorsey's book, but he always starts with an existing chart. No problem there. He does not cover how you start the first column in a new chart. I understand how to update an existing chart. The closing price is never used. Think of a stock that has just had an IPO. There is no prior price history. How do you represent the first days price? Do you use the high or the low? It makes a difference. Since you have access to Tom, maybe you could ask him? GM

To: Ms. X who wrote (269)	2/2/1998 8:16:00 AM
From: Jerry Olson	Read Replies (1) \| Respond to of 34811

Good Morning Jan I did some general home work over the weekend, just looking at some charts...I play the semis & semi equip makers..i like their "volitility"...<g>.. Every chart looks basically the same...I am new to P&F from about 4-5 months ago, and I am just now seeing how charts devlope...WOW if you look at AMAT-KLAC-NVLS-KLIC etc each & every one of these charts show the rollover and down turn step by step..Incredible when you stand back from the day to day stuff and look at the overall picture... Right now there are some good bottom fish plays as the sector is Bull Alert, and they just now ALL turned up...this sector has vasilated for the last few months in going positive and negative in a tight range, I think they will breakout to the upside... I would be careful here, because Asia is still the weak link for the semis still...the next 2 Q's will be negaive for earnings...NSM just warned today about NOT meeting estimates for the next 2 Q's...I have been posting this senario on other threads i frequent... BUT, having said that, they are tradable and make good hit & run plays using options, which is what I am doing... The markets have very little downside with all the exceptional factors falling into place...The short interest is the largest ever...The shorts will have to cover quickly, and the large cash inflows to the fundies will explode this market to new highs... Volume has been impressive to the upside... I would love your take on the semis...AMAT-KLAC-NVLS-KLIC..ETC, oh yeah I'm looking at AMD too<gg>.. Really happy I found this thread, because I like Dorsey, See ya, Jerry