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

To: wizzards wine who wrote (3732)	6/15/1998 9:22:00 PM
From: james ball	Read Replies (2) \| Respond to of 34811

Tom Dorsey to Preston because the game is so interesting we tend to try to over-think positions and situations. I also find myself doing it and often times have to stop mid stream and go back to the indicators. Over the last 20 years they have been much further ahead of me than my best thinking. It's human nature to try to figure things out. I once had a book named "how things work". I loved that book as it illustrated how all kids of things worked. It did not have a section on the stock market however. New variables are constantly being entered into the equation that cause our best thinking to fall far short of the mark. The Bullish Percents however, are perfectly capable of evaluating all the new data, variables and curve balls that are thrown at it. Sticking with these soulless barometers reduces the stress levels considerably and increases the probability of doing the right thing. That's all we can hope for is to increase our probabilities of success. There ain't no crystal ball. The only man I have found that can think like a bullish percent is my friend Jim Rogers. It was a real feather in my cap when he validated my book by recommending it on the back cover. His thinking is all economics as are the P&F's. He has also said to me that the only method of technical analysis he believes in is P&F's simply because they are born out of the law of supply and demand. I know he was raked over the coals because of his interest rate call but who's perfect. I'll never forget going to the Yale Club for a speech with four other analysts from Goldman to Merrill. I was armed with a Utility Bullish Percent at 24% and his fundamental reasoning of why deregulation would be positive not negative as Wall Street thought. I was the only one bullish on Utilities Sep. 1994. The rest were all negative. Oh well Preston time to go home. Tom