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

To: james ball who wrote (7771)	9/25/1998 8:03:00 AM
From: Mr. BSL	Read Replies (2) \| Respond to of 34808

Hi Tom. 50% discount full brokerage . I would not pay a full service firm, even at a discount. 1) They could not add value to my TA input. Why play phone tag with a broker to find out if my stock is still trading above the BSL when the information is readily available to me. 2) They could not add value to my FA input. Why play phone tag with my broker to find out if the fundamentals have improved when the information is readily available to me (Valueline, Zachs). 3) They could not add value to my mutual fund selections. Everything I need is found in the P&F sector links and on Morningstar, which is free. Even for non-DWA subscribers, sector info is readily available. The CBS site charts all the major sectors. 4) When I make a bad trade based on my own input, all the information that went into the trade is available to me so that I can learn from it. If a broker recommends a stock based on the house's research and it turns out to be a bad buy, I paid tuition without getting an education. duke60

To: james ball who wrote (7771)	9/25/1998 8:13:00 AM
From: Diana	Read Replies (1) \| Respond to of 34808

Just one woman's opinion, but one based upon having tried it all and taken my lumps and profits: >>If you could operate with say a 50% discount at a full service brokerage firm, would you do this for the safety, research, execution, ability to bounce ideas off a broker etc. Or would you prefer to go internet to a Schwalb or deep discount operation. Do the big wirehouses have research you think is valuable.<< A fully engaged investor can always make better decisions than a broker. There is a great deal to be said for Enlightened Self Interest (ESI). We who have been around the block with research, news reporting, etc realize that brokers, too, operate with ESI. Only Goldilocks would believe them capable of being fully committed to my best interests. (Yeah, I know there are some gems out there, but I'm not spending time in that haystack looking for the golden needle.) I'll take my chances on making my own mistakes. At least I can learn from them. Besides, there is a mountain of research out there and a wide open internet. Nothing truly useful escapes the web community for long. DWA, Silicon Investor, and thestreet.com have made me mountains more money than Paine Webber ever did (even though the broker was a very honorable fellow) and cost me a pittance of PW's burdensome fees. But there is a place for the full service boys. Let's face it, most folks are totally disinterested in managing their investing and will be happy to pay a pro to do it for them. On an aside, thanks, Tom, for the DWA site. It is #1 on my investing hit parade! Diana

To: james ball who wrote (7771)	9/25/1998 8:37:00 AM
From: wizzards wine	Read Replies (2) \| Respond to of 34808

"grub" Morning Tom, I believe that sometimes the big houses have very good research, one of the problems I've seen though is that they tend to push those stocks that they are promoting and getting a discount on first...trying to ferret out what is a good deal and what they are hyping can be a problem... I was in Oppenheimer with one of thier VP's a while back, and of 20 stocks we looked at that they were touting 19 were P&F negative... Not good for my hard earned money or time... Later Preston

To: james ball who wrote (7771)	9/25/1998 8:41:00 AM
From: Al Serrao	Respond to of 34808

Tom, we all know the research is dated by the time it reaches the retail level. The research that I have received did not provide me with a clear advantage.

To: james ball who wrote (7771)	9/25/1998 8:55:00 AM
From: Lee Lichterman III	Read Replies (3) \| Respond to of 34808

>>> To: Jay Scott (7631 ) From: james ball Wednesday, Sep 23 1998 4:19PM ET Reply # of 7682 It feels so good to act rather than react like the masses do. Other threads were confused about our offensive move and expected further down in the market. They simply don't take the time to learn. That's ok as we need them to take the other side. It takes both sides to make a market. Tom D. <<<<< Just had to rib a little since I was one of those bears on the "other threads". Been saving this to see what happened over the next week. Remember to use multiple indicators when trading a market like this. I value this thread and it's people on it but when things look bullish on one indicator yet the FA, stochastics and candle charts don't back it up, keep an eye out for the NYSEBP turn but trade with the intermediate lines. Tom Dietz made some good points on the Stock attack thread regarding the NYSEBP. You guys are probably right longer term but one can't be too early in this market. Hope no one here gets hurt today Good Luck Lee

To: james ball who wrote (7771)	9/25/1998 9:23:00 AM
From: Margaret Mateer	Read Replies (1) \| Respond to of 34808

Hi Tom, It was a real thrill meeting you at the conference two weeks ago! Thanks for your time. Re: "Do the big wirehouses have research you think is valuable" For real, only when you use it as a contrary indicator. They are so dangerous for the average investor or for the investor who doesn't have the time to fully research and confirm their ideas. My experience is with Merrill and I especially resent their attempts to sell me stock that they make a market in... You can count on it losing a minimum of 50% of its value in the next couple of months. If you have specific questions you need answered like, whether the portfolio of XYZ bank contains a lot of derivatives, they can get you the answer fast and that is good. So until I get to the point where I am good enough to be truly independent, I'll stick with them (now that I've got their games figured out) - Also, I don't get charged commissions in my trading account - they get a % at the end of the year and it works out to be very low. Peggy

To: james ball who wrote (7771)	9/25/1998 12:08:00 PM
From: Jerry Olson	Read Replies (2) \| Respond to of 34808

Hi Mr. T-Ball I'm thinking i'm probably a day late and a buck short about your ??... Is DWA going to become a brokerage house...on-line & full service??? TOM, i like the full service aspects of investing/trading...i like when I can "Talk" to someone day to day.... my make up is NOT to do anything online...i learned from my losses that my emotions keep me from making proper decisions while watching the screen... i like position trading rather than day-trading....so for my money i would love to talk to a DW broker, that has been trained in P&F charting... Right now i'm with Dean Whitter MS, they charge me 5c per share for stocks and between 35 & 100 bucks for option trades each way... While I don't use any "Other" form of charting other than P&F now, i like the idea of talking about the stock trade, sector, etc when i buy/sell something...what could be better than that, using the FULL SERVICES of TD-DWA, to talk a trader thru the potential trade... I would certainly use your service, without hesitation...of course if we opened an account, we would get "ALL" the Premium Services Offered by the company....:>} Since "The Market" is where everyone is at the moment...especially "novice" investors of great magnitude...DWA could aid these types of investors with imeasurable guidence in all the pitfalls of these wild & crazy days... Mr. Ball, i think a DWA Brokerage Co. would do wonders for the public at large...unsophisticated investors could enjoy, what we here enjoy, the straight forward, simplistic way to trade these markets... it sure has helped me....<g>... with my regards, Jerry

To: james ball who wrote (7771)	9/27/1998 9:02:00 AM
From: edward miller	Read Replies (1) \| Respond to of 34808

My opinion - the research on the net is better than anything you get from a brokerage. Go with the deep discounters to save commissions. I also find I get quick executions there. Brown & Co is excellent in my opinion. After starting with a full service firm almost 30 years ago, I would never go back. Tom, why would you bother bouncing your ideas off a salesman? I've never gotten good advise from any of them. Do your own work and understand what your goals are and make a plan to get there. If you do your own research and follow the markets, you will know more. As for internet trades, well I don't think so. I have read too many stories on SI threads of people thinking they made a trade or didn't make a trade, only to find out later that it didn't really happen that way because what they saw on their monitor at home somehow didn't happen. I call a real person on a recorded line and usually get the price of the trade before I hang up. At $5 (market orders) or $10 per trade, why put up with any uncertainty?