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

To: Smooth Drive who wrote (6965)	9/9/1998 12:19:00 AM
From: freelyhovering	Read Replies (2) \| Respond to of 34808

Eric--The rules of P&F state that entries can only be made in one direction per day. Today GLM opened at 13.5 and then traded down into the low 11's. If it opens tomorrow at 11.5 and then goes to 14, which way do we do on the chart mark-up? Also, would a day trader benefit from changing the rule and making two entries today and viewing the ll area as a correction from the high of 13.5? Myron

To: Smooth Drive who wrote (6965)	9/9/1998 6:39:00 AM
From: Bwe	Respond to of 34808

Eric, I've found that differences will sometimes occur between Chartcraft and DWA post split charts. I consider the Chartcraft chart to be my "official" chart on those occasions. Major difference on TJX p&f chart between DWA and Chartcraft, and I know that stock very well and DWA's post split chart does not accurately reflect the stock's action IMHO. Check out the difference. It changes the way an individual would approach analyzing the stock, drawing in trendlines, etc. The differences occur from January '98 through July. As for your other question, no, I strictly use the traditional box sizes and never deviate. With regard to my previous post analyzing the Crude charts for October through December, here's an update of yesterday's action. By the way, I believe the Oil Service sector bullish % is going to reverse up to Bull Alert Status today. Yesterday, the group gained 1.92% and that should be enough to raise the status after Thursday's and Friday's action. Anyway, the October chart moved to $14.30 in an O column. A move to $14.00 would be a bearish HPT. The November chart also reversed to $14.50 and a move to $14.10 would put that chart into a HPT. The BRL is still the problem at $15.40 The December chart, the only one that had exceeded it's BRL, reversed back below the BRL again and now is at $14.70. The BRL is at $15. A HPT at $14.40. Not a good day for those charts yesterday as the BRL's and reversal into down columns ruled the day. Best to all, Bruce