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Politics : Formerly About Applied Materials -- Ignore unavailable to you. Want to Upgrade?

To: Gottfried who wrote (23690)	9/1/1998 4:07:00 PM
From: Paul V.	Read Replies (1) \| Respond to of 70976

Gottfried,>Paul, I wonder how much one can rely on TA when the cause of a stock's movement was general market panic. Does Tom Dorsey say anything about that? I mean, today the innocent majority of stocks was punished together with the guilty few.< Not that I recall. He constantly reiterates, paraphrasing, that the market does its thing and he tracks it based on supply and demand. However, as you will observe from his posts on the P & F Charting site, he does compare with past charting patterns, ie 1990 and 1987. He does give us some projections through the Bear resistance and Bull Support lines, various formations, statistical probabilities, double tops and bottoms, triple tops and bottoms, bullish and bearish triangles, bullish and bearish catapult,shakeout formation and then the Market and Sector data and Mutual funds data. The only thing I have observed, is with AMAT its volatility it zigs when you think it is going to zag, and has continual shakeout points and if you have close stops, you can get stopped out when you do not want it. However, I do plan to use more stops in the upcoming movement up. >Gottfried BTW, I'm signing on for Tom's site tomorrow.< Congradulations, now I will have someone compare perceptions with along with the SI Point and Figure Charting site. The $25 per month is worth it even though I am a more longer term investor than Tom Dorsey would recommend. But, I am considering a variation in my approach since we will be moving up in AMAT sometime from these bottoms. I still consider the upside gain vrs the downside risk with AMAT a tremendous plus. I was considering buying some CSCO on the last downturn but when I compared how it compared against the Bull support line I passed on it. What a wild two days. I can hardly wait to see the DW weekly data tomorrow to see how the market and sectors responded. It looks to me that the mutual funds were going into the techs. I wonder what is going to happen to Big Bucks predictions. However, looking at DW past AMAT charts there is usually a retest of the bottoms before the movement upward. Thanks for your feed back. Paul V.