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

To: Ben Antanaitis who wrote (708)	2/16/1998 9:26:00 PM
From: Teddy	Read Replies (1) \| Respond to of 34811

Ben, glad you're here, you might be able to answer a question i put in for Tom on Wednesday: The P&F for NE (Noble Drilling) indicates support at 25 and resistance at 30. With Options Expy Friday and the stock now sitting right between 25 and 30, i think that it would be a bad idea to place a stop right at $25 because if it hit that would most likely be the low of the week. Do you have any thoughts on that? I was thinking that moving it down about 1/2 would still provide protection against a total horror show while preventing getting taken out on a blip. Do you have any thoughts on this? (Warning: Tom's going to answer too<g>)

To: Ben Antanaitis who wrote (708)	2/17/1998 2:12:00 AM
From: Gottfried	Read Replies (2) \| Respond to of 34811

Ben, thanks for the options analysis! Looks like IOM will be at 10 Friday if the theory holds this time. Question about bullish percent for industry groups: IBD has 197 groups, but Dorsey/Wright covers only about 41. Also, I know of no list showing the members of each IBD group. For the groups DW DOES have, they DO show member stocks as a distribution, sorted by % oversold/overbought. That is a nice feature. I guess if one is interested in a stock belonging to one of the absent groups, one is out of luck as far as the groups bullish % goes? I noticed the PnF chart for SP500 on the DW site is not available. Well, I can always create it myself using EZ_PnF. It just gets a little frustrating because a lot of links are missing. Fortunately we have this thread to get some answers. But they should be available on the DW site. I checked into the Scobey (sp?) site, but without doing the trial I find it hard to tell what they have. Is there any complete resource on the web for PnF charts? By complete I mean it covers all of IBDs groups? I realize that some of IBDs groups are too small to allow meaningful bullish % calculations. (example: retail drug stores has only 9 stocks). And Jan just mentioned in a recent post that under 100 stocks may be too small. That doesn't seem right either, because only 17 of IBDs 197 groups have >100 stocks. And to me IBD is the standard for groups, because IBD has a 250,000 circulation. Your comments are eagerly awaited. :) Gottfried