Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: Ms. X who wrote (7956)	9/27/1998 3:55:00 PM
From: Lee Lichterman III	Respond to of 34809

I fully understood what YOU were saying. The point in my original ribbing post was that I saw allot of "jumping the gun" bullishness here from OTHER P&Fers and especially from some of the P&F followers visiting our other threads. The post I pasted was essentially gloating that we had not taken the time or effort to "learn" and therefore we had missed out on a one day rally that was news driven. I have spent years learning numerous charting techniques and spend hundreds of hours reading news, building charts and interpreting signals. Some of the others he was referencing were Donald Sew, Electric, Dennis Patterson, LG, Gonzo etc that have studied probably 10 times as much as the poster. It would be like me accusing Louis Ruhkeyser, Soros or Buffet of being amatures because they missed a buy opportunity. <g> I use P&F in conjunction with many other TA references such as candle charts, RSI, Stochastics and a homebuilt formulas that weigh various factors blended together filtering out weighting of index factors etc. I do believe the NYSEBP is giving a valid signal, however I also believe that there will be some heavy turbulence between the original turn and when the market finally turns up for the next mid term rally that will last a while. While I believe no one can tell us where we will be in 45 days (DOW 10,000 or 6500), I do think we will be trending up mid-term by the end of November. With pre-warnings, earnings releases, German & Brazilian elections, impeachment possibilities bank and fund defaults etc. There are too many news possibilities to see clear sailing. It all depends on what your style is to investing. If you are a buy and hold type, this is a great buy opportunity to dip a toe in and hold onto for a year or more. However if you make 2-3 day plays, then other methods get more emphasis. Good examples would be IBM, DELL etc. They give bullish P&F signals however they give bearish signals by other methods as being short term over bought. Puts could make money in a day trade, yet long term short would be wrong and longs would make money. Great posts here, lets hope we survive this next couple of weeks as I think it will be the last of the whip saws for a while. Keep an eye on Wednesday and the 9th. Lee