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

To: flashy who wrote (4131)	6/26/1998 2:46:00 AM
From: XOsDaWAY2GO	Read Replies (1) \| Respond to of 34808

>>Can you share what your routine is each day? What a great question! Tell us, tell us Jannie pzammi! A question that has been on my mind is buying options. I understand the concept, but when I look at all the "mumbo jumbo" on the options (there's so many figures, I can't just yet figure it out.) I was thinking of buying a leap on T now that it's down some. Does anyone think that is a good one? Barbara

To: flashy who wrote (4131)	6/26/1998 11:21:00 AM
From: Ms. X	Read Replies (2) \| Respond to of 34808

Hi Flashy, My routine... Wow. Remember that everyone develops their own method to this madness. Once you get to know P&F you change what you look for, what you inherently know etc. First off, DWA is my homepage on my browser. I visit DWA more times a day than I can count. Following the market everyday I know the status, i.e. the NYSEBP and all the indicators. I know approximately what the sectors are doing and I know what stocks I follow, are doing. Whenever there is a market risk change, I adjust my plan. For instance, when we are in a bull market, I like to take a little risk and find issues that may take me on a "thrill" ride as well as those that are solid performers. When the market turns bearish, I cover what I don't want to loose and sell what I need to. I'll also find those fun put ideas to play with. The order is: NYSEBP, Sector %, and then Stock. If, like some are now, I see a sector move to Bull Alert, I will scan that sector for juicy little tidbits for either a trade or long. I look for patterns that may offer a quick trade (triple tops, triple bottoms). Here is an example. I've wanted to buy LU for some time. I know on the FA side of things they are great but with the market being poopy, I wanted to wait. I kept LU on my radar screen, watching the sector and LU's performance. LU didn't really break down and when I saw the sector go Bull Alert and LU give two excellent signals (bearish signal reversal and a triple top) I was all over that stock. Charles Schwab had no idea what hit them! The routine: I have several portfolio's at the DWA site that I monitor. One is my personal portfolio, one is my IRA, one is Value Line rated 1-2, the others are various groupings. I have one for instance of possible short ideas or possible call option ideas. I have also put the portfolio contest stocks in the DWA database to monitor. I look at these EVERYDAY! Without exception. It tells me what my issues are doing. I know instantly if their is a trend, RS, momentum or sector risk change. Takes a lot of work out of my hands. Also, I chart by hand a few stocks to keep in practice. I have the box seats at DWA so every night I print out his report and read every word. I check the DWA market indicators (only box seats) and do searches for ideas. I evaluate my portfolio each night. I make sure my plan still makes sense. I set goals. I track to some degree. Often I'm asked what my percentage return is and I really don't know. Pretty good though, I'd imagine. I know inherently what the market and sectors are doing so I don't "look" at them everyday. I do keep tabs however because sectors and market risk are very important. I know the breakdown points of my stocks and I keep up on them often enough to know if they are reaching their breakdowns. P&F is nice 'cause it gives you time to figure these things out. Investing isn't easy. It takes work which is why having a broker isn't really as evil as the media leads you to believe. If I didn't know how to do P&F and didn't have an understanding of the market, I'd have a broker. Of course, my broker would be a P&F wiz bang! I hope this answered your question. Take care, Jan I am