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

To: Ms. X who wrote (5723)	8/12/1998 12:35:00 AM
From: Jorj X Mckie	Read Replies (2) \| Respond to of 34824

Jan, Following the BSL for RMBS it looks like the trendline will put the next support at $53 followed by the DB supports at $51&52. Assuming that all is well in the world we would expect the lows to follow the BSL up, correct? Tom

To: Ms. X who wrote (5723)	8/12/1998 11:01:00 PM
From: Dennis J.	Read Replies (2) \| Respond to of 34824

Intraday X's and O's anyone? Today's RMBS moves raise a good discussion point. Here, RMBS marks two more O's to the downside, then rockets up to 61, giving a DT buy signal at 58 along the way. Those who update their charts at days-end have just missed a buying opportunity. By the time they post it tomorrow night, the new buy signal will be old news, and the stock may have run even higher (more likely than a new low, I guess). Anyway, it's odds-on to print about the way we have seen intra-day. In this age of cheap computers that can even word-process as you speak, does it now make sense to post intra-day changes to a new column as they occur, or at least the obvious based on today's open-high-low-close data? I expect some software is already (or will soon be) programmed to update intra-day moves in real time. And since we are tracking supply-demand, why lose some of this data, even for a day? I know this suggestion does not set well with those who still update charts by hand, and it does add complexity. But won't this change be forced upon us eventually? Tom Dorsey: Care to speculate on the future? Eric, Wizzie, Jan, others? I'm fascinated by this little problem. Dennis