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Strategies & Market Trends : P&F Research -- Ignore unavailable to you. Want to Upgrade?

To: wizzards wine who wrote (261)	9/13/1998 10:16:00 AM
From: Margaret Mateer	Read Replies (2) \| Respond to of 389

I have met our main man, Tom Dorsey, in person, yesterday at the conference in Fort Lauderdale. Yes, yes, yes, it was a genuine thrill! He is, as we all know, a GREAT guy - generous, of course, with his time and knowledge. He's remarking that these recent bottoms in oil and precious metals are indicating INFLATION, not recession as most are thinking and that oil is going to $20/barrel and to keep an eye on the Dow Jones 20 Bond Average because when it gives a P&F SELL signal, rates are going up! I was re-reminded of the importance of taking into account when making trading decisions the Univ. of Chicago study on the causes of price movement, that is, Sector 41%, Market 31% and Individual Company 20%. Velly important. Again, when that NYSEBP reverses up, it will be a rare opportunity... I listened to several lectures, but I believe it was Tom who was remarking that he sees the collapse of foreign currencies as a prime mover in the rise in precious metals (Hello Jack Kemp) and that the increase in the price of oil was predictive of the eventual recovery in Asia. Altogether, an excellent day - my head is spinning - so much to think about. But as Tom says, just concentrate on the cards that you're dealt and play them. Wish you all had been there. BTW, he spoke highly of the "very smart" people on the SI-Point and Figure Charting thread and I guess we'll have some new visitors soon! Have a great week, Peggy